Genius Sports (NYSE:GENI) Sees Strong Trading Volume – Here’s What Happened

Genius Sports Limited (NYSE:GENI) shares saw an uptick in trading volume on Wednesday . 1,920,414 shares traded hands during mid-day trading, a decline of 12% from the previous session’s volume of 2,187,867 shares.The stock last traded at $9.18 and had previously closed at $9.21.

Analyst Upgrades and Downgrades

GENI has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $11.00 price objective on shares of Genius Sports in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research report on Tuesday, November 12th. Oppenheimer upped their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Citizens Jmp cut shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. Finally, B. Riley boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.94.

Genius Sports Stock Performance

The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -27.42 and a beta of 2.15. The firm has a fifty day simple moving average of $9.09 and a 200-day simple moving average of $7.75.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The company had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.94 million. During the same period last year, the firm earned ($0.06) earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Analysts expect that Genius Sports Limited will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

A number of hedge funds have recently made changes to their positions in the company. AMI Asset Management Corp bought a new position in shares of Genius Sports during the fourth quarter worth about $560,000. Moody National Bank Trust Division increased its stake in Genius Sports by 1.5% in the fourth quarter. Moody National Bank Trust Division now owns 520,214 shares of the company’s stock valued at $4,500,000 after purchasing an additional 7,674 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Genius Sports by 56.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 491,314 shares of the company’s stock worth $4,250,000 after buying an additional 176,845 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Genius Sports by 2,765,692.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 691,448 shares of the company’s stock worth $5,421,000 after purchasing an additional 691,423 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Genius Sports in the third quarter valued at $371,000. 81.91% of the stock is owned by institutional investors and hedge funds.

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.