Genius Sports (NYSE:GENI) Shares Down 6.6% - Time to Sell?

Key Points

• Genius Sports shares fell 6.6% to about $7.49, with trading volume roughly 70% below the average daily level.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $11.44, although Zacks Research downgraded the stock to “Strong Sell.”
• The company’s latest quarter showed revenue growth of 64.7% to $195.5 million, beating estimates, but its $0.28 per-share loss was substantially wider than the expected $0.07 loss.

Shares of Genius Sports Limited (NYSE:GENI - Get Free Report) dropped 6.6% on Monday . The stock traded as low as $7.48 and last traded at $7.49. Approximately 1,875,724 shares changed hands during trading, a decline of 70% from the average daily volume of 6,291,976 shares. The stock had previously closed at $8.02.

Analysts Set New Price Targets

GENI has been the topic of several recent analyst reports. Roth Capital reiterated a "buy" rating and issued a $12.00 price target on shares of Genius Sports in a report on Friday, August 7th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $8.00 price target on shares of Genius Sports in a research report on Friday, August 7th. Oppenheimer raised their price target on Genius Sports from $10.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Zacks Research cut shares of Genius Sports from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Finally, Benchmark reaffirmed a "buy" rating on shares of Genius Sports in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $11.44.

Genius Sports Stock Down 6.5%

The stock has a market capitalization of $1.85 billion, a P/E ratio of -11.03 and a beta of 1.90. The firm has a 50 day moving average of $7.00 and a 200-day moving average of $5.87. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.97.

Genius Sports (NYSE:GENI - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.21). Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The firm had revenue of $195.50 million during the quarter, compared to analyst estimates of $184.43 million. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Genius Sports's revenue for the quarter was up 64.7% compared to the same quarter last year. On average, equities research analysts expect that Genius Sports Limited will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC purchased a new position in shares of Genius Sports during the 1st quarter valued at $25,000. Baer Investment Advisory LLC bought a new position in Genius Sports in the 1st quarter worth $61,000. UMB Bank n.a. purchased a new stake in Genius Sports in the 4th quarter worth $63,000. Lexington Hill Partners LLC purchased a new position in shares of Genius Sports in the second quarter valued at about $64,000. Finally, Pacer Advisors Inc. grew its position in shares of Genius Sports by 29.1% during the first quarter. Pacer Advisors Inc. now owns 15,270 shares of the company's stock worth $68,000 after purchasing an additional 3,440 shares in the last quarter. Institutional investors own 81.91% of the company's stock.

About Genius Sports

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.

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