Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Sees Large Drop in Short Interest

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 98,700 shares, a drop of 17.9% from the October 15th total of 120,200 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 36,200 shares, the short-interest ratio is presently 2.7 days.

Allied Gaming & Entertainment Price Performance

AGAE opened at $1.14 on Friday. The business has a fifty day simple moving average of $1.29 and a 200 day simple moving average of $1.15. Allied Gaming & Entertainment has a 1 year low of $0.61 and a 1 year high of $1.57. The company has a market capitalization of $50.06 million, a PE ratio of -4.20 and a beta of 1.38.

Allied Gaming & Entertainment (NASDAQ:AGAE) last announced its earnings results on Monday, August 19th. The company reported ($0.09) earnings per share (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 business had revenue of $2.64 million during the quarter.

Institutional Trading of Allied Gaming & Entertainment

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Innealta Capital LLC raised its holdings in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 100.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 117,582 shares of the company’s stock after purchasing an additional 58,791 shares during the quarter. Innealta Capital LLC owned 0.27% of Allied Gaming & Entertainment worth $119,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.21% of the company’s stock.

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.