Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Brief Interest Update

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE – Get Free Report ) received a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 102,900 shares, a decrease of 52.8% from July 31st’s total of 217,900 shares. About 0.6% of the stock’s shares are short sold. Based on an average daily trading volume of 107,200 shares, the short interest rate is currently 1.0 days.

Insider buying and selling at Allied Gaming & Entertainment

In related news, major shareholder Roy Choi acquired 140,000 shares of Allied Gaming & Entertainment stock in a transaction dated Tuesday, July 9th. The shares were bought at an average cost of $1.47 per share, with a total value of $205,800.00. Following the acquisition, the insider now owns 3,011,822 shares in the company, valued at approximately $4,427,378.34. The acquisition was disclosed in a filing with the SEC, which is available via this link. Over the last 90 days, insiders bought 633,010 shares of company stock worth $831,923. Company insiders own 39.40% of the company’s shares.

Institutional investors invest in Allied Gaming & Entertainment

A hedge fund recently increased its stake in Allied Gaming & Entertainment. Injenta Capital LLC increased its stake in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE – Free Report) by 100.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,582 shares of the company’s stock after acquiring an additional 58,791 shares during the period. Inçalta Capital LLC owned approximately 0.27% of Allied Gaming & Entertainment worth $119,000 at the end of the most recent quarter. 3.21% of the shares are currently held by hedge funds and other institutional investors.

Allied Gaming & Entertainment stock fell 2.3%

Shares of AGAE stock opened at $1.28 on Wednesday. The stock has a 50-day simple moving average of $1.28 and a 200-day simple moving average of $1.02. Allied Gaming & Entertainment has a fifty-two week low of $0.61 and a fifty-two week high of $1.57. The stock has a market cap of $58.26 million, a P/E ratio of -14.22 and a beta of 1.49.

Allied Gaming & Entertainment (NASDAQ:AGAE – Get Your Free Report ) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.09) earnings per share for the quarter. Allied Gaming & Entertainment had a negative net margin of 38.47% and a negative return on equity of 3.84%. The business had revenue of $2.64 million for the quarter.

Allied Gaming & Entertainment company profile

(Get a free report)

Allied Gaming & Entertainment Inc provides entertainment and gaming products worldwide. Operates esports properties to connect players and fans through a network of connected arenas; an iconic gaming arena located at the Luxor Hotel in Las Vegas, Nevada; a mobile esports truck that serves as a battleground and content generation hub; and a studio for recording and streaming gaming events.

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