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

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 973,151 shares, an increase of 60.1% from the February 12th total of 607,996 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 25,480,853 shares, the short-interest ratio is presently 0.0 days. Based on an average daily trading volume, of 25,480,853 shares, the short-interest ratio is presently 0.0 days. Currently, 3.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AGAE. Corient Private Wealth LLC bought a new position in shares of Allied Gaming & Entertainment in the fourth quarter worth $262,000. Miracle Mile Advisors LLC bought a new stake in shares of Allied Gaming & Entertainment during the third quarter valued at about $590,000. Susquehanna International Group LLP bought a new stake in shares of Allied Gaming & Entertainment during the third quarter valued at about $90,000. XTX Topco Ltd acquired a new stake in Allied Gaming & Entertainment in the fourth quarter worth about $26,000. Finally, Geode Capital Management LLC lifted its holdings in Allied Gaming & Entertainment by 14.4% in the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock worth $634,000 after purchasing an additional 30,706 shares during the period. Institutional investors and hedge funds own 3.21% of the company’s stock.

Allied Gaming & Entertainment Price Performance

Shares of AGAE stock opened at $0.30 on Friday. Allied Gaming & Entertainment has a 12-month low of $0.25 and a 12-month high of $3.79. The firm has a market capitalization of $11.17 million, a price-to-earnings ratio of -0.55 and a beta of 1.58. The business has a 50 day simple moving average of $0.32 and a 200 day simple moving average of $0.56.

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.