Allied Gaming & Entertainment (NASDAQ:AGAE) Posts 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) posted its earnings results on Thursday. The company reported ($0.11) earnings per share for the quarter, Zacks reports. Allied Gaming & Entertainment had a negative net margin of 221.65% and a negative return on equity of 8.20%.

Allied Gaming & Entertainment Stock Down 2.0%

NASDAQ:AGAE traded down $0.03 during trading hours on Thursday, reaching $1.49. The company had a trading volume of 15,116 shares, compared to its average volume of 130,864. The firm has a market capitalization of $56.65 million, a PE ratio of -3.04 and a beta of 1.71. The stock has a 50-day moving average of $2.16 and a two-hundred day moving average of $1.60. Allied Gaming & Entertainment has a one year low of $0.70 and a one year high of $3.79.

Institutional Investors Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC raised its position in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE - Free Report) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,608 shares of the company's stock after buying an additional 30,706 shares during the period. Geode Capital Management LLC owned 0.64% of Allied Gaming & Entertainment worth $634,000 as of its most recent SEC filing. Institutional investors and hedge funds own 3.21% of the company's stock.

Wall Street Analysts Forecast Growth

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

Allied Gaming & Entertainment Company Profile

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.

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