Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Sees Significant Decline in Short Interest

Allied Gaming & Entertainment Inc. (NASDAQ:AGAEGet Free Report) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 85,300 shares, a decline of 6.7% from the February 29th total of 91,400 shares. Based on an average trading volume of 62,400 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.7% of the company’s shares are sold short.

Insider Transactions at Allied Gaming & Entertainment

In other news, major shareholder Knighted Pastures Llc purchased 28,876 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was bought at an average cost of $0.98 per share, for a total transaction of $28,298.48. Following the acquisition, the insider now directly owns 8,306,374 shares of the company’s stock, valued at approximately $8,140,246.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Knighted Pastures Llc bought 28,876 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were bought at an average price of $0.98 per share, for a total transaction of $28,298.48. Following the purchase, the insider now owns 8,306,374 shares in the company, valued at $8,140,246.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Roy Choi acquired 159,665 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were bought at an average cost of $1.26 per share, with a total value of $201,177.90. Following the completion of the acquisition, the insider now owns 8,741,208 shares in the company, valued at $11,013,922.08. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 209,841 shares of company stock worth $253,545. 39.40% of the stock is currently owned by insiders.

Institutional Trading of Allied Gaming & Entertainment

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Allied Gaming & Entertainment by 11.6% during the first quarter. Vanguard Group Inc. now owns 419,743 shares of the company’s stock worth $724,000 after purchasing an additional 43,563 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Allied Gaming & Entertainment during the second quarter worth $385,000. Geode Capital Management LLC bought a new stake in shares of Allied Gaming & Entertainment during the second quarter worth $154,000. State Street Corp bought a new stake in shares of Allied Gaming & Entertainment during the second quarter worth $74,000. Finally, Innealta Capital LLC bought a new stake in shares of Allied Gaming & Entertainment during the second quarter worth $62,000. 3.21% of the stock is currently owned by institutional investors.

Allied Gaming & Entertainment Stock Performance

AGAE stock opened at $0.91 on Wednesday. The firm has a fifty day moving average price of $1.05 and a 200 day moving average price of $1.00. Allied Gaming & Entertainment has a fifty-two week low of $0.76 and a fifty-two week high of $1.50. The firm has a market cap of $33.55 million, a PE ratio of -9.11 and a beta of 1.31.

Allied Gaming & Entertainment (NASDAQ:AGAEGet Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $179.67 million during the quarter. Allied Gaming & Entertainment had a negative return on equity of 4.29% and a negative net margin of 46.98%.

About Allied Gaming & Entertainment

(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.

Further Reading

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