Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Sees Significant Growth in Short Interest

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 118,000 shares, an increase of 7.0% from the December 31st total of 110,300 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 28,900 shares, the short-interest ratio is currently 4.1 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC raised its holdings in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,856 shares of the company’s stock after buying 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. Institutional investors own 3.21% of the company’s stock.

Allied Gaming & Entertainment Trading Down 1.3 %

AGAE stock opened at $1.10 on Tuesday. Allied Gaming & Entertainment has a 12-month low of $0.61 and a 12-month high of $1.57. The business’s fifty day moving average price is $0.90 and its 200 day moving average price is $1.15. The company has a market capitalization of $48.52 million, a PE ratio of -4.07 and a beta of 1.44.

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.