Allied Gaming & Entertainment Inc. (NASDAQ:AIFA) Short Interest Update

Allied Gaming & Entertainment Inc. (NASDAQ:AIFA) saw a large decrease in short interest in June. As of June 15th, there was short interest totaling 210,172 shares, a decrease of 87.1% from the May 31st total of 1,630,875 shares. Based on an average trading volume of 105,957 shares, the short-interest ratio is currently 2.0 days. Currently, 5.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIFA. Virtu Financial LLC acquired a new position in Allied Gaming & Entertainment during the 3rd quarter valued at about $27,000. Geode Capital Management LLC lifted its stake in shares of Allied Gaming & Entertainment by 14.4% during the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock worth $634,000 after buying an additional 30,706 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Allied Gaming & Entertainment by 84.1% during the first quarter. Renaissance Technologies LLC now owns 127,392 shares of the company’s stock valued at $35,000 after buying an additional 58,200 shares during the last quarter. XTX Topco Ltd purchased a new stake in Allied Gaming & Entertainment during the 4th quarter valued at about $26,000. Finally, Susquehanna International Group LLP acquired a new position in Allied Gaming & Entertainment in the 3rd quarter worth approximately $90,000. 3.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AIFA. Weiss Ratings upgraded shares of Allied Gaming & Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of Allied Gaming & Entertainment from a “strong sell” rating to a “sell” rating in a report on Sunday, June 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Allied Gaming & Entertainment currently has an average rating of “Sell”.

Allied Gaming & Entertainment Stock Down 2.1%

NASDAQ AIFA opened at $2.35 on Friday. The firm has a market cap of $14.99 million, a PE ratio of -0.46 and a beta of 2.29. The company has a 50 day moving average price of $2.84 and a 200 day moving average price of $2.28. Allied Gaming & Entertainment has a 52 week low of $1.51 and a 52 week high of $19.20.

Allied Gaming & Entertainment (NASDAQ:AIFA) last announced its earnings results on Monday, June 15th. The company reported ($0.83) earnings per share for the quarter. Allied Gaming & Entertainment had a negative net margin of 456.92% and a negative return on equity of 69.97%. The firm had revenue of $1.55 million during the quarter.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment, Inc is a digital media and technology company focused on the development, production and distribution of live amateur sports content in the United States. The company’s flagship InPlay Sports division secures rights to high school and collegiate athletic events and streams those competitions across linear and digital channels. Through strategic partnerships with regional school conferences and venues, Allied Gaming aims to expand the reach of under-served amateur athletics audiences while creating new content monetization opportunities.

Allied’s content portfolio spans live event coverage, on-demand highlights and studio productions designed for distribution on television, web and mobile platforms.