Genius Sports (NYSE:GENI) Shares Gap Up to $5.42

Genius Sports Limited (NYSE:GENI) gapped up before the market opened on Wednesday . The stock had previously closed at $5.42, but opened at $5.73. Genius Sports shares last traded at $5.44, with a volume of 1,002,842 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on GENI. Benchmark reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Genius Sports in a research report on Thursday, March 7th. The Goldman Sachs Group initiated coverage on Genius Sports in a research note on Tuesday, April 16th. They issued a “buy” rating and a $7.50 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 price target on shares of Genius Sports in a report on Monday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price objective on shares of Genius Sports in a research note on Thursday, March 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Genius Sports in a report on Wednesday, March 6th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Genius Sports has an average rating of “Buy” and a consensus target price of $9.25.

Genius Sports Trading Up 2.4 %

The business’s 50 day moving average price is $5.74 and its two-hundred day moving average price is $5.89. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -14.45 and a beta of 1.98.

Genius Sports (NYSE:GENI) last posted its earnings results on Wednesday, March 6th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $126.53 million. Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.18) EPS. Analysts expect that Genius Sports Limited will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Voss Capital LLC bought a new stake in Genius Sports during the 4th quarter worth approximately $3,244,000. Wellington Management Group LLP raised its position in shares of Genius Sports by 2,189.3% during the third quarter. Wellington Management Group LLP now owns 1,504,922 shares of the company’s stock worth $8,021,000 after purchasing an additional 1,439,184 shares during the period. ARK Investment Management LLC lifted its holdings in shares of Genius Sports by 9.9% in the 4th quarter. ARK Investment Management LLC now owns 6,914,013 shares of the company’s stock worth $42,729,000 after purchasing an additional 620,472 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Genius Sports in the third quarter valued at $1,366,000. Finally, Essex Investment Management Co. LLC acquired a new position in Genius Sports during the 3rd quarter valued at about $1,093,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.