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

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 102,000 shares, a drop of 34.3% from the March 15th total of 155,300 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 23,500 shares, the days-to-cover ratio is currently 4.3 days.

Allied Gaming & Entertainment Stock Performance

Shares of Allied Gaming & Entertainment stock opened at $1.00 on Thursday. Allied Gaming & Entertainment has a 52-week low of $0.61 and a 52-week high of $1.57. The business’s 50 day simple moving average is $1.03 and its 200 day simple moving average is $1.04. The firm has a market cap of $44.11 million, a PE ratio of -3.70 and a beta of 1.31.

Institutional Inflows and Outflows

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

About Allied Gaming & Entertainment

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.