Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Expands By 21.8%

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 143,000 shares, an increase of 21.8% from the February 13th total of 117,400 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average trading volume of 26,400 shares, the days-to-cover ratio is presently 5.4 days.

Allied Gaming & Entertainment Price Performance

NASDAQ AGAE opened at $1.10 on Tuesday. Allied Gaming & Entertainment has a 1 year low of $0.61 and a 1 year high of $1.57. The firm has a market cap of $48.52 million, a price-to-earnings ratio of -4.07 and a beta of 1.48. The company has a fifty day moving average price of $1.02 and a 200-day moving average price of $1.09.

Institutional Trading of Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC lifted its position in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% in the 3rd quarter, according to the company in 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 quarter. Geode Capital Management LLC owned approximately 0.49% of Allied Gaming & Entertainment worth $297,000 at the end of the most recent reporting period. Institutional investors own 3.21% of the company’s stock.

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.