Genius Sports (NYSE:GENI) Stock Price Up 4.7% – What’s Next?

Shares of Genius Sports Limited (NYSE:GENI) shot up 4.7% during mid-day trading on Monday . The company traded as high as $6.46 and last traded at $6.48. 238,037 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 6,269,475 shares. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Truist Financial lowered their price objective on Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Needham & Company LLC cut their target price on Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Stifel Nicolaus decreased their target price on Genius Sports from $7.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Genius Sports in a report on Monday, May 11th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Citigroup dropped their price target on Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Genius Sports currently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Genius Sports Stock Performance

The firm has a fifty day simple moving average of $5.72 and a two-hundred day simple moving average of $6.46. The firm has a market cap of $1.62 billion, a PE ratio of -10.80 and a beta of 1.91.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The firm had revenue of $187.95 million for the quarter, compared to analysts’ expectations of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The firm’s revenue was up 30.5% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. Equities analysts forecast that Genius Sports Limited will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds have recently bought and sold shares of the business. Prelude Capital Management LLC grew its stake in shares of Genius Sports by 1.3% in the 3rd quarter. Prelude Capital Management LLC now owns 92,529 shares of the company’s stock worth $1,146,000 after buying an additional 1,181 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Genius Sports by 10.0% during the 2nd quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock valued at $159,000 after buying an additional 1,388 shares in the last quarter. SkyView Investment Advisors LLC raised its position in shares of Genius Sports by 2.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 77,289 shares of the company’s stock valued at $802,000 after buying an additional 1,512 shares in the last quarter. Main Management ETF Advisors LLC lifted its holdings in shares of Genius Sports by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 163,647 shares of the company’s stock valued at $1,803,000 after acquiring an additional 1,672 shares during the last quarter. Finally, First Dallas Securities Inc. lifted its holdings in shares of Genius Sports by 3.0% in the 4th quarter. First Dallas Securities Inc. now owns 68,500 shares of the company’s stock valued at $755,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.