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

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 108,300 shares, a decline of 27.7% from the November 15th total of 149,700 shares. Based on an average daily trading volume, of 29,200 shares, the short-interest ratio is presently 3.7 days. Approximately 1.1% of the company’s shares are short sold.

Allied Gaming & Entertainment Stock Performance

Shares of AGAE opened at $0.84 on Friday. The stock has a market cap of $36.96 million, a P/E ratio of -3.10 and a beta of 1.37. Allied Gaming & Entertainment has a one year low of $0.61 and a one year high of $1.57. The stock has a 50-day moving average of $1.13 and a two-hundred day moving average of $1.18.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC increased its position in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 216,856 shares of the company’s stock after buying an additional 35,385 shares during the quarter. Geode Capital Management LLC owned about 0.49% of Allied Gaming & Entertainment worth $297,000 as of its most recent SEC filing. Institutional investors and hedge funds own 3.21% of the company’s stock.

Allied Gaming & Entertainment Company Profile

Allied Gaming & Entertainment Inc provides entertainment and gaming products worldwide. It operates esports properties to connect players and fans through a network of connected arenas; a flagship gaming arena located at the Luxor Hotel in Las Vegas, Nevada; a mobile esports truck that serves as a battleground and content generation hub; and a studio for recording and streaming gaming events.