Renaissance Technologies LLC recently announced the acquisition of new stake in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE). The institutional investor has increased its shareholding in the Communication Services company by 3.60% to 23000.0 shares with purchase of 800.0 shares. This fresh investment now brings its stake to 0.06% valued currently at $24150.0. In addition, Jane Street Capital LLC raised its holdings by 22481.0 to 22481.0 shares.
With over 0.12 million Allied Gaming & Entertainment Inc. (AGAE) shares trading Tuesday and a closing price of $1.23 on the day, the dollar volume was approximately $0.14 million. The shares have shown a negative half year performance of -23.60% and its price on 01/24/23 gained nearly 4.21%. Currently, there are 39.09M common shares owned by the public and among those 17.18M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for AGAE have a consensus price objective of $2.50. The analysts have set the share’s price value over the next 12 months at a high of $2.50 and a low of $2.50. But an upside of 50.8% will see the stock hit the forecast high price target while median target price for the stock is $2.50.
The top 3 mutual fund holders in Allied Gaming & Entertainment Inc. are Vanguard Total Stock Market Index, Fidelity Extended Market Index Fu, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.34 million shares of the company’s stock, all valued at over $0.36 million. Vanguard Extended Market Index Fu bought 379.0 shares to bring its total holdings to over 78107.0 shares at a value of $82012.0. Vanguard Extended Market Index Fu now owns shares totaling to 0.20% of the shares outstanding.
Shares of Allied Gaming & Entertainment Inc. (NASDAQ: AGAE) opened at $1.17, down -$0.01 from a prior closing price of $1.18. However, the script later moved the day high at 1.2300, up 4.21%. The company’s stock has a 5-day price change of 4.24% and 6.96% over the past three months. AGAE shares are trading 17.14% year to date (YTD), with the 12-month market performance down to -31.67% lower. It has a 12-month low price of $0.88 and touched a high of $1.94 over the same period. AGAE has an average intraday trading volume of 93.59K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.23%, 7.93%, and -9.45% respectively.
Institutional ownership of Allied Gaming & Entertainment Inc. (NASDAQ: AGAE) shares accounts for 20.70% of the company’s 39.09M shares outstanding. Mutual fund holders own 1.61%, while other institutional holders and individual stakeholders account for 70.33% and 1.57% respectively.
It has a market capitalization of $49.14M and a beta (3y monthly) value of 1.20. The earnings-per-share (ttm) stands at -$0.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.00% over the week and 6.06% over the month.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Allied Gaming & Entertainment Inc. (AGAE) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”