Genius Sports (NYSE:GENI) Shares Up 10.2% – Time to Buy?

Shares of Genius Sports Limited (NYSE:GENI) shot up 10.2% during mid-day trading on Monday . The company traded as high as $7.20 and last traded at $7.14. Approximately 997,167 shares were traded during trading, a decline of 84% from the average daily volume of 6,166,786 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GENI. Roth Capital set a $10.00 price objective on Genius Sports in a report on Friday, May 8th. Wells Fargo & Company dropped their target price on shares of Genius Sports from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Monday, July 20th. Citigroup cut their price target on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Truist Financial reduced their price target on shares of Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research report on Monday, May 11th. They issued a “buy” rating and a $10.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.19.

Genius Sports Trading Up 10.9%

The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -11.81 and a beta of 1.91. The firm has a 50-day moving average of $6.14 and a 200 day moving average of $6.14.

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

Institutional Investors Weigh In On Genius Sports

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC acquired a new position in Genius Sports in the 4th quarter worth $59,851,000. Senvest Management LLC grew its stake in shares of Genius Sports by 45.1% during the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock valued at $60,486,000 after acquiring an additional 4,243,157 shares in the last quarter. Invesco Ltd. grew its stake in shares of Genius Sports by 3,584.2% during the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after acquiring an additional 3,202,290 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Genius Sports by 785.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company’s stock worth $36,248,000 after acquiring an additional 2,917,830 shares during the last quarter. Finally, Voss Capital LP increased its position in shares of Genius Sports by 35.4% during the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock worth $122,322,000 after acquiring an additional 2,900,000 shares during the last quarter. Hedge funds and other 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.