Genius Sports (NYSE:GENI) Stock Price Up 8.9% – Here’s What Happened

Genius Sports Limited (NYSE:GENI)’s share price rose 8.9% during mid-day trading on Monday . The company traded as high as $6.34 and last traded at $6.4550. Approximately 648,691 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 6,219,253 shares. The stock had previously closed at $5.93.

Analysts Set New Price Targets

A number of research analysts recently commented on GENI shares. Truist Financial dropped their price target on Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. UBS Group reaffirmed a “buy” rating on shares of Genius Sports in a research note on Wednesday, March 4th. Oppenheimer dropped their price target on Genius Sports from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft started coverage on Genius Sports in a research note on Monday, May 11th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Stifel Nicolaus dropped their price target on Genius Sports from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.68.

Genius Sports Stock Up 9.9%

The stock has a 50 day moving average price of $4.76 and a 200 day moving average price of $7.15. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -10.66 and a beta of 1.90.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The firm had revenue of $187.95 million for the quarter, compared to analyst estimates of $170.60 million. During the same period in the previous year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. Sell-side analysts forecast that Genius Sports Limited will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC bought a new position in shares of Genius Sports during the first quarter worth about $25,000. Ritter Alpha LP bought a new stake in Genius Sports in the first quarter valued at approximately $77,000. Orographic Financial Advisors LLC bought a new stake in Genius Sports in the first quarter valued at approximately $154,000. Royal Bank of Canada boosted its holdings in Genius Sports by 24.2% in the first quarter. Royal Bank of Canada now owns 32,298 shares of the company’s stock valued at $142,000 after acquiring an additional 6,294 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC boosted its holdings in Genius Sports by 15.6% in the first quarter. Infrastructure Capital Advisors LLC now owns 26,000 shares of the company’s stock valued at $115,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.