Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Down 17.9% in October

Posted by Xavier Holt on Nov 16th, 2024

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE – Get Free Report) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 98,700 shares, a decrease of 17.9% from the October 15th total of 120,200 shares. Based on an average trading volume of 36,200 shares, the short-interest ratio is currently 2.7 days. Currently, 1.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Innealta Capital LLC boosted its stake in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE – Free Report) by 100.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,582 shares of the company’s stock after purchasing an additional 58,791 shares during the quarter. Innealta Capital LLC owned about 0.27% of Allied Gaming & Entertainment worth $119,000 at the end of the most recent reporting period. Institutional investors own 3.21% of the company’s stock.

Allied Gaming & Entertainment Stock Performance

Shares of NASDAQ AGAE opened at $1.14 on Friday. The stock has a 50 day moving average price of $1.29 and a 200 day moving average price of $1.15. The stock has a market capitalization of $50.06 million, a PE ratio of -4.20 and a beta of 1.38. Allied Gaming & Entertainment has a 52 week low of $0.61 and a 52 week high of $1.57.

Allied Gaming & Entertainment (NASDAQ:AGAE – Get Free Report) last released its quarterly earnings data on Monday, August 19th. The company reported ($0.09) EPS for the quarter. Allied Gaming & Entertainment had a negative net margin of 79.30% and a negative return on equity of 7.27%. The company had revenue of $2.64 million during the quarter.

Allied Gaming & Entertainment Company Profile

(Get Free Report)

Allied Gaming & Entertainment Inc provides entertainment and gaming products worldwide. It operates esports properties to connect players and fans through a network of connected arenas; a flagship gaming arena located at the Luxor Hotel in Las Vegas, Nevada; a mobile esports truck that serves as a battleground and content generation hub; and a studio for recording and streaming gaming events.