Allied Gaming & Entertainment (NASDAQ:AGAE) Trading 2% Higher – Here’s Why

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE)’s share price traded up 2% during trading on Monday . The company traded as high as $1.06 and last traded at $1.04. 11,313 shares were traded during mid-day trading, a decline of 56% from the average session volume of 25,707 shares. The stock had previously closed at $1.02.

Allied Gaming & Entertainment Stock Up 2.0 %

The stock has a 50 day moving average of $0.99 and a 200 day moving average of $1.09. The company has a market capitalization of $45.87 million, a price-to-earnings ratio of -3.85 and a beta of 1.48.

Hedge Funds Weigh In On Allied Gaming & Entertainment

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Geode Capital Management LLC increased its stake in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216,856 shares of the company’s stock after acquiring an additional 35,385 shares during the quarter. Geode Capital Management LLC owned about 0.49% of Allied Gaming & Entertainment worth $297,000 at the end of the most recent reporting period. 3.21% of the stock is currently owned by 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.