Genius Sports (NYSE:GENI) Sees Strong Trading Volume – Time to Buy?

Genius Sports Limited (NYSE:GENI) saw unusually-strong trading volume on Wednesday . Approximately 1,920,414 shares were traded during trading, a decline of 12% from the previous session’s volume of 2,187,867 shares.The stock last traded at $9.18 and had previously closed at $9.21.

Analysts Set New Price Targets

Several equities research analysts have commented on GENI shares. Benchmark boosted their price objective on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup boosted their price objective on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. B. Riley upped their price target on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citizens Jmp lowered Genius Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Macquarie upped their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.94.

Genius Sports Stock Down 3.8 %

The company has a market capitalization of $2.03 billion, a PE ratio of -27.69 and a beta of 2.15. The firm has a 50-day moving average of $9.04 and a two-hundred day moving average of $7.74.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The company had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. On average, equities research analysts expect that Genius Sports Limited will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GENI. FMR LLC lifted its stake in Genius Sports by 53.2% during the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in Genius Sports during the second quarter worth $11,233,000. Massachusetts Financial Services Co. MA lifted its stake in Genius Sports by 28.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after purchasing an additional 1,502,958 shares in the last quarter. Bank of Montreal Can acquired a new position in Genius Sports during the second quarter worth $6,575,000. Finally, AYAL Capital Advisors Ltd acquired a new position in Genius Sports during the second quarter worth $4,635,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Company Profile

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.