Allied Gaming & Entertainment (NASDAQ:AGAE) Stock Price Down 1% – Here’s What Happened

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE)’s share price dropped 1% during trading on Tuesday . The stock traded as low as $0.91 and last traded at $0.96. Approximately 13,237 shares were traded during trading, a decline of 72% from the average daily volume of 46,534 shares. The stock had previously closed at $0.97.

Allied Gaming & Entertainment Stock Down 1.0 %

The stock’s 50 day moving average price is $1.05 and its two-hundred day moving average price is $1.05. The firm has a market capitalization of $42.34 million, a price-to-earnings ratio of -3.56 and a beta of 1.31.

Institutional Investors Weigh In On Allied Gaming & Entertainment

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Geode Capital Management LLC raised its holdings in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,856 shares of the company’s stock after acquiring an additional 35,385 shares during the quarter. Geode Capital Management LLC owned about 0.49% of Allied Gaming & Entertainment worth $297,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.