Allied Gaming & Entertainment (NASDAQ:AGAE) Trading Down 2.7% – Time to Sell?

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE)’s share price was down 2.7% on Monday . The stock traded as low as $0.90 and last traded at $0.92. Approximately 22,075 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 36,925 shares. The stock had previously closed at $0.95.

Allied Gaming & Entertainment Price Performance

The firm has a market cap of $39.92 million, a PE ratio of -3.35 and a beta of 1.40. The business has a 50-day moving average price of $0.93 and a two-hundred day moving average price of $1.18.

Hedge Funds Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC grew its holdings in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,856 shares of the company’s stock after purchasing an additional 35,385 shares during the quarter. Geode Capital Management LLC owned approximately 0.49% of Allied Gaming & Entertainment worth $297,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.