Genius Sports (NYSE:GENI) Hits New 52-Week Low – Here’s Why

Genius Sports Limited (NYSE:GENI) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.01 and last traded at $5.0450, with a volume of 445484 shares trading hands. The stock had previously closed at $5.18.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GENI. Weiss Ratings reissued a “sell (d-)” rating on shares of Genius Sports in a research note on Monday, December 29th. Northland Securities set a $12.00 price objective on Genius Sports in a report on Friday, February 6th. BTIG Research cut their price target on shares of Genius Sports from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Zacks Research upgraded shares of Genius Sports from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. Finally, Oppenheimer lowered their price objective on shares of Genius Sports from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.84.

Genius Sports Stock Performance

The company has a market cap of $1.07 billion, a PE ratio of -11.60 and a beta of 1.91. The company has a 50 day simple moving average of $8.02 and a two-hundred day simple moving average of $10.24.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The company had revenue of $240.50 million during the quarter, compared to analysts’ expectations of $234.94 million. Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.Genius Sports’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share. As a group, analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

A number of institutional investors have recently modified their holdings of the stock. UMB Bank n.a. purchased a new position in shares of Genius Sports during the 4th quarter valued at $63,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Genius Sports during the third quarter worth $65,000. Strs Ohio boosted its position in Genius Sports by 178.9% during the third quarter. Strs Ohio now owns 5,300 shares of the company’s stock valued at $66,000 after purchasing an additional 3,400 shares during the last quarter. Bessemer Group Inc. grew its stake in Genius Sports by 1,163.1% in the third quarter. Bessemer Group Inc. now owns 7,010 shares of the company’s stock valued at $87,000 after purchasing an additional 6,455 shares in the last quarter. Finally, CWM LLC grew its stake in Genius Sports by 106.3% in the third quarter. CWM LLC now owns 8,209 shares of the company’s stock valued at $102,000 after purchasing an additional 4,229 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

About Genius Sports

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.