Genius Sports (NYSE:GENI) Shares Up 7.5% – Here’s Why

Shares of Genius Sports Limited (NYSE:GENI) were up 7.5% during trading on Tuesday . The company traded as high as $9.19 and last traded at $9.19. Approximately 949,033 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 2,152,979 shares. The stock had previously closed at $8.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GENI shares. Macquarie upped their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. B. Riley increased their target price on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citizens Jmp cut Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research report on Tuesday, November 12th. Finally, Citigroup increased their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.94.

Genius Sports Price Performance

The business has a fifty day moving average price of $9.07 and a 200 day moving average price of $7.74. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -27.42 and a beta of 2.15.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. Genius Sports’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. Research analysts anticipate that Genius Sports Limited will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Genius Sports by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after buying an additional 1,502,958 shares in the last quarter. Renaissance Technologies LLC raised its position in Genius Sports by 9.4% in the second quarter. Renaissance Technologies LLC now owns 390,000 shares of the company’s stock worth $2,126,000 after acquiring an additional 33,522 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Genius Sports in the 2nd quarter valued at about $67,000. XTX Topco Ltd acquired a new stake in Genius Sports in the 2nd quarter valued at about $120,000. Finally, Divisadero Street Capital Management LP acquired a new position in shares of Genius Sports in the 2nd quarter worth approximately $11,233,000. 81.91% of the stock is owned by institutional investors.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.