Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Down 9.5% in January

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 128,500 shares, a decrease of 9.5% from the January 15th total of 142,000 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily volume of 27,100 shares, the days-to-cover ratio is presently 4.7 days.

Institutional Trading of Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC increased 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 firm 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 as of its most recent filing with the Securities & Exchange Commission. 3.21% of the stock is owned by institutional investors.

Allied Gaming & Entertainment Stock Performance

NASDAQ:AGAE opened at $1.00 on Wednesday. The business has a 50 day moving average price of $0.91 and a 200-day moving average price of $1.12. Allied Gaming & Entertainment has a fifty-two week low of $0.61 and a fifty-two week high of $1.57. The firm has a market cap of $43.89 million, a PE ratio of -3.69 and a beta of 1.44.

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.