Allied Gaming & Entertainment (NASDAQ:AGAE) Announces Earnings Results

Key Points

• Allied Gaming & Entertainment reported a loss of ($0.11) earnings per share for the quarter, along with a negative net margin of 221.65%.
• The company's stock is trading at $1.49, down 2.0% during trading hours, with a market capitalization of $56.65 million.
• Geode Capital Management has increased its stake in Allied Gaming by 14.4%, now owning 0.64% of the company valued at approximately $634,000.

Allied Gaming & Entertainment (NASDAQ:AGAE - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.11) earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $1.92 million for the quarter. Allied Gaming & Entertainment had a negative net margin of 253.19% and a negative return on equity of 10.27%.

Allied Gaming & Entertainment Stock Down 2.3%

NASDAQ:AGAE traded down $0.03 during trading hours on Tuesday, reaching $1.26. The company had a trading volume of 15,040 shares, compared to its average volume of 34,321. The stock has a 50-day moving average of $2.04 and a two-hundred day moving average of $1.61. Allied Gaming & Entertainment has a one year low of $0.70 and a one year high of $3.79. The firm has a market capitalization of $47.91 million, a PE ratio of -2.47 and a beta of 1.71.

Hedge Funds Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC grew its holdings in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE - Free Report) by 14.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 244,608 shares of the company's stock after purchasing an additional 30,706 shares during the quarter. Geode Capital Management LLC owned about 0.64% of Allied Gaming & Entertainment worth $634,000 as of its most recent filing with the SEC. 3.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Allied Gaming & Entertainment to a "sell" rating in a research report on Friday, June 27th.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment, Inc operates as an experiential entertainment company, which engages in the creation of esports venues and live events for both video games and poker. The company was founded in 2017 and is headquartered in New York, NY.