Allied Gaming & Entertainment (NASDAQ:AIFA) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Allied Gaming & Entertainment (NASDAQ:AIFA) announced its quarterly earnings results on Friday. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03, FiscalAI reports. 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 $1.25 million during the quarter, compared to analysts’ expectations of $0.50 million.

Allied Gaming & Entertainment Stock Down 0.3%

Shares of NASDAQ AIFA traded down $0.01 during mid-day trading on Friday, hitting $2.90. 166,824 shares of the company were exchanged, compared to its average volume of 1,207,501. The stock has a 50 day simple moving average of $2.13 and a 200-day simple moving average of $2.23. Allied Gaming & Entertainment has a 1-year low of $1.51 and a 1-year high of $13.68. The firm has a market cap of $18.50 million, a price-to-earnings ratio of -0.57 and a beta of 2.38.

Institutional Trading of Allied Gaming & Entertainment

Hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC purchased a new stake in shares of Allied Gaming & Entertainment in the fourth quarter valued at about $262,000. Geode Capital Management LLC boosted its holdings in Allied Gaming & Entertainment by 14.4% in the 2nd quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock valued at $634,000 after purchasing an additional 30,706 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Allied Gaming & Entertainment in the 3rd quarter valued at approximately $90,000. XTX Topco Ltd purchased a new stake in shares of Allied Gaming & Entertainment during the 4th quarter worth $26,000. Finally, Virtu Financial LLC purchased a new stake in shares of Allied Gaming & Entertainment during the 3rd quarter worth $27,000. Institutional investors and hedge funds own 3.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen upgraded Allied Gaming & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Allied Gaming & Entertainment presently has a consensus rating of “Sell”.

Allied Gaming & Entertainment Company Profile

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.