Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Down 24.1% in September

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 150,400 shares, a decrease of 24.1% from the September 15th total of 198,100 shares. Based on an average daily trading volume, of 53,800 shares, the short-interest ratio is currently 2.8 days. Approximately 1.3% of the company’s stock are short sold.

Allied Gaming & Entertainment Stock Performance

Shares of AGAE opened at $1.24 on Monday. The firm has a market cap of $56.44 million, a PE ratio of -13.78 and a beta of 1.35. The firm’s 50 day moving average price is $1.31 and its 200 day moving average price is $1.10. Allied Gaming & Entertainment has a twelve month low of $0.61 and a twelve month high of $1.57.

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

Institutional Trading of Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Innealta Capital LLC lifted its stake in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 100.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 117,582 shares of the company’s stock after acquiring an additional 58,791 shares during the period. Innealta Capital LLC owned 0.27% of Allied Gaming & Entertainment worth $119,000 at the end of the most recent reporting period. 3.21% of the stock is currently owned by hedge funds and other institutional investors.

Allied Gaming & Entertainment Company Profile

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.