Genius Sports Sees Unusually High Options Volume (NYSE:GENI)

Genius Sports Limited (NYSE:GENI) was the recipient of some unusual options trading activity on Tuesday. Stock investors bought 9,963 call options on the stock. This is an increase of 278% compared to the average daily volume of 2,636 call options.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GENI. The Goldman Sachs Group increased their price target on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Genius Sports in a research note on Friday, October 11th. Macquarie cut their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a report on Tuesday. Finally, B. Riley upped their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $9.45.

Genius Sports Stock Performance

Shares of NYSE:GENI traded up $1.40 during trading on Tuesday, reaching $9.48. 11,026,006 shares of the stock traded hands, compared to its average volume of 2,351,960. The stock has a 50-day moving average of $7.48 and a two-hundred day moving average of $6.49. Genius Sports has a 52-week low of $4.73 and a 52-week high of $9.85. The stock has a market cap of $2.17 billion, a P/E ratio of -22.23 and a beta of 1.98.

Institutional Investors Weigh In On Genius Sports

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC bought a new stake in shares of Genius Sports during the 3rd quarter valued at $78,000. Arkadios Wealth Advisors purchased a new position in shares of Genius Sports in the 3rd quarter worth $79,000. Koss Olinger Consulting LLC purchased a new position in shares of Genius Sports during the 2nd quarter worth about $64,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Genius Sports during the 2nd quarter worth about $67,000. Finally, Fullcircle Wealth LLC purchased a new position in shares of Genius Sports during the 3rd quarter worth about $118,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

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.