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

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

Hedge Funds Weigh In On Allied Gaming & Entertainment

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Geode Capital Management LLC grew its stake in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,856 shares of the company’s stock after buying an additional 35,385 shares during the period. Geode Capital Management LLC owned 0.49% of Allied Gaming & Entertainment worth $297,000 at the end of the most recent reporting period. 3.21% of the stock is currently owned by institutional investors and hedge funds.

Allied Gaming & Entertainment Stock Performance

Shares of NASDAQ:AGAE opened at $1.00 on Wednesday. The company’s 50-day moving average is $0.91 and its 200 day moving average is $1.12. The company has a market capitalization of $43.89 million, a P/E ratio of -3.69 and a beta of 1.44. Allied Gaming & Entertainment has a fifty-two week low of $0.61 and a fifty-two week high of $1.57.

Allied Gaming & Entertainment Company Profile

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.