Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Sees Large Increase in Short Interest

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 118,000 shares, an increase of 7.0% from the December 15th total of 110,300 shares. Based on an average trading volume of 28,900 shares, the days-to-cover ratio is presently 4.1 days. Approximately 1.2% of the shares of the stock are short sold.

Allied Gaming & Entertainment Price Performance

AGAE stock opened at $0.90 on Tuesday. The firm has a market cap of $39.70 million, a PE ratio of -3.33 and a beta of 1.40. Allied Gaming & Entertainment has a 12 month low of $0.61 and a 12 month high of $1.57. The firm has a 50 day simple moving average of $0.91 and a 200 day simple moving average of $1.17.

Institutional Investors Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC grew its stake in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,856 shares of the company’s stock after purchasing an additional 35,385 shares during the period. Geode Capital Management LLC owned about 0.49% of Allied Gaming & Entertainment worth $297,000 as of its most recent SEC filing. 3.21% of the stock is currently owned by hedge funds and other institutional investors.

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.