Allied Gaming & Entertainment (NASDAQ:AIFA) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Allied Gaming & Entertainment (NASDAQ:AIFA) released its quarterly earnings results on Monday. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03, FiscalAI reports. Allied Gaming & Entertainment had a negative net margin of 438.98% and a negative return on equity of 62.67%. The company had revenue of $1.25 million for the quarter, compared to analyst estimates of $0.50 million.

Allied Gaming & Entertainment Trading Down 2.3%

Shares of NASDAQ AIFA opened at $2.96 on Wednesday. The firm has a market cap of $18.88 million, a price-to-earnings ratio of -0.65 and a beta of 2.38. The stock has a fifty day simple moving average of $2.17 and a two-hundred day simple moving average of $2.25. Allied Gaming & Entertainment has a 1-year low of $1.51 and a 1-year high of $13.68.

Analysts Set New Price Targets

AIFA has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research note on Friday, July 17th. Wall Street Zen raised Allied Gaming & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Allied Gaming & Entertainment has an average rating of “Sell”.

Hedge Funds Weigh In On Allied Gaming & Entertainment

Several large investors have recently modified their holdings of AIFA. Corient Private Wealth LLC purchased a new position in Allied Gaming & Entertainment in the 4th quarter valued at approximately $262,000. Geode Capital Management LLC grew its position in shares of Allied Gaming & Entertainment by 14.4% in the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock valued at $634,000 after purchasing an additional 30,706 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of Allied Gaming & Entertainment during the 3rd quarter valued at $90,000. XTX Topco Ltd bought a new stake in shares of Allied Gaming & Entertainment during the 4th quarter valued at $26,000. Finally, Virtu Financial LLC purchased a new stake in Allied Gaming & Entertainment during the 3rd quarter worth about $27,000. Hedge funds and other institutional investors own 3.21% of the company’s stock.

Allied Gaming & Entertainment Company Profile

Allied Gaming & Entertainment, Inc is a digital media and technology company focused on the development, production and distribution of live amateur sports content in the United States. The company’s flagship InPlay Sports division secures rights to high school and collegiate athletic events and streams those competitions across linear and digital channels. Through strategic partnerships with regional school conferences and venues, Allied Gaming aims to expand the reach of under-served amateur athletics audiences while creating new content monetization opportunities.

Allied’s content portfolio spans live event coverage, on-demand highlights and studio productions designed for distribution on television, web and mobile platforms.