Genius Sports (NYSE:GENI) Trading Up 4.1% – Still a Buy?

Genius Sports Limited (NYSE:GENI) shares were up 4.1% during mid-day trading on Monday . The company traded as high as $7.90 and last traded at $7.88. Approximately 621,217 shares were traded during trading, a decline of 73% from the average daily volume of 2,304,071 shares. The stock had previously closed at $7.57.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GENI shares. Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research report on Tuesday, August 6th. B. Riley lifted their target price on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their price target on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Genius Sports in a report on Friday, October 11th. Finally, Macquarie reduced their price objective on Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports presently has a consensus rating of “Buy” and an average price target of $9.45.

Genius Sports Stock Down 2.4 %

The firm has a market capitalization of $1.75 billion, a PE ratio of -19.51 and a beta of 1.96. The stock has a 50-day simple moving average of $7.52 and a 200-day simple moving average of $6.24.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The firm had revenue of $95.50 million for the quarter, compared to the consensus estimate of $94.15 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. Equities analysts forecast that Genius Sports Limited will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds have recently made changes to their positions in GENI. Sound Income Strategies LLC purchased a new position in Genius Sports during the 3rd quarter valued at about $78,000. AYAL Capital Advisors Ltd bought a new position in shares of Genius Sports in the second quarter valued at approximately $4,635,000. Squarepoint Ops LLC bought a new position in shares of Genius Sports in the second quarter valued at approximately $1,804,000. Bank of Montreal Can purchased a new position in Genius Sports during the second quarter valued at approximately $6,575,000. Finally, Hood River Capital Management LLC increased its holdings in Genius Sports by 6.0% during the 2nd quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock worth $11,046,000 after acquiring an additional 114,490 shares during the period. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.