Allied Gaming & Entertainment (NASDAQ:AGAE) Stock Price Down 3.7% - Should You Sell?

Key Points

• Allied Gaming & Entertainment's stock price fell 3.7% to $1.84 during midday trading, with trading volume down 64% from the average.
• Wall Street Zen has updated their rating for Allied Gaming & Entertainment to a "sell" as of June 27th.
• The company's recent earnings report revealed a loss of ($0.11) earnings per share and a revenue of $2.28 million for the quarter.

Shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE - Get Free Report) were down 3.7% during mid-day trading on Tuesday . The company traded as low as $1.79 and last traded at $1.84. Approximately 23,048 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 64,238 shares. The stock had previously closed at $1.91.

Wall Street Analysts Forecast Growth

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

Allied Gaming & Entertainment Stock Down 5.1%

The firm has a market cap of $60.26 million, a price-to-earnings ratio of -3.23 and a beta of 1.69. The business has a 50 day moving average price of $2.36 and a 200-day moving average price of $1.56.

Allied Gaming & Entertainment (NASDAQ:AGAE - Get Free Report) last posted its earnings results on Monday, July 7th. The company reported ($0.11) earnings per share (EPS) for the quarter. Allied Gaming & Entertainment had a negative net margin of 221.65% and a negative return on equity of 8.20%. The company had revenue of $2.28 million during the quarter.

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.