Allied Gaming & Entertainment (NASDAQ:AGAE) Shares Down 2.7% – What’s Next?

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was down 2.7% during trading on Monday . The stock traded as low as $0.90 and last traded at $0.92. Approximately 22,075 shares changed hands during trading, a decline of 40% from the average daily volume of 36,925 shares. The stock had previously closed at $0.95.

Allied Gaming & Entertainment Trading Down 2.7 %

The stock’s 50 day moving average price is $0.94 and its two-hundred day moving average price is $1.18. The firm has a market capitalization of $40.75 million, a price-to-earnings ratio of -3.42 and a beta of 1.40.

Hedge Funds Weigh In On Allied Gaming & Entertainment

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Geode Capital Management LLC grew its position in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,856 shares of the company’s stock after buying an additional 35,385 shares during the quarter. Geode Capital Management LLC owned 0.49% of Allied Gaming & Entertainment worth $297,000 at the end of the most recent quarter. Institutional investors own 3.21% of the company’s stock.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment Inc provides entertainment and gaming products worldwide. It operates esports properties to connect players and fans through a network of connected arenas; a flagship 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.