Allied Esports Entertainment Inc. [NASDAQ: AESE] stock went on a downward path that fall over -0.78% on Thursday, amounting to a one-week price decrease of less than -6.62%. The company report on April 1, 2021 that Allied Esports Entertainment Announces Preliminary Unaudited Fourth Quarter and Full Year 2020 Financial Results.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the “Company” or “AESE”), a global esports entertainment company, announced preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2020, as well as an update on several key business initiatives. This release refers to “continuing” and “discontinued” operations due to the pending sale of the Company’s subsidiaries operating our poker-related business and assets comprising the World Poker Tour® (“World Poker Tour,” or “WPT®”), which is currently in active negotiations to be sold in a transaction that is expected to close in the second quarter of 2021. Therefore, unless otherwise noted, results presented in this release relate to the continuing operations of the Company and Allied Esports, and excludes the World Poker Tour.
The Company filed a Form 12b-25 to extend the due date for filing its Annual Report on Form 10-K for the year ended December 31, 2020 until April 15, 2021. Reflected herein are selected preliminary unaudited financial results. These financial results are subject to adjustments based upon, among other things, the completion of the audit of the Company’s consolidated financial statements as of December 31, 2020 and for the year then ended.
Over the last 12 months, AESE stock rose by 17.05%. The one-year Allied Esports Entertainment Inc. stock forecast points to a potential upside of 15.33. The average equity rating for AESE stock is currently 1.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $99.44 million, with 29.63 million shares outstanding and 18.59 million shares in the current float. Compared to the average trading volume of 6.58M shares, AESE stock reached a trading volume of 2307541 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Allied Esports Entertainment Inc. [AESE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AESE shares is $3.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AESE stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stephens have made an estimate for Allied Esports Entertainment Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 18, 2019. The new note on the price target was released on December 11, 2019, representing the official price target for Allied Esports Entertainment Inc. stock.
The Average True Range (ATR) for Allied Esports Entertainment Inc. is set at 0.34, with the Price to Sales ratio for AESE stock in the period of the last 12 months amounting to 4.32. The Price to Book ratio for the last quarter was 1.72, with the Price to Cash per share for the same quarter was set at 0.15.
AESE Stock Performance Analysis:
Allied Esports Entertainment Inc. [AESE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.62. With this latest performance, AESE shares dropped by -5.58% in over the last four-week period, additionally plugging by 103.20% over the last 6 months – not to mention a rise of 17.05% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AESE stock in for the last two-week period is set at 44.08, with the RSI for the last a single of trading hit 37.21, and the three-weeks RSI is set at 47.70 for Allied Esports Entertainment Inc. [AESE]. The present Moving Average for the last 50 days of trading for this stock 2.65, while it was recorded at 2.59 for the last single week of trading, and 1.82 for the last 200 days.
Insight into Allied Esports Entertainment Inc. Fundamentals:
Allied Esports Entertainment Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
AESE Stock EPS
With the latest financial reports released by the company, Allied Esports Entertainment Inc. posted -0.37/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -131.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AESE.
Allied Esports Entertainment Inc. [AESE] Insider Position Details
There are presently around $2 million, or 2.80% of AESE stock, in the hands of institutional investors. The top three institutional holders of AESE stocks are: VANGUARD GROUP INC with ownership of 388,594, which is approximately 83.642% of the company’s market cap and around 17.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 166,457 shares of the stock with an approximate value of $0.43 million in AESE stocks shares; and VIRTU FINANCIAL LLC, currently with $0.23 million in AESE stock with ownership of nearly New of the company’s market capitalization.
12 institutional holders increased their position in Allied Esports Entertainment Inc. [NASDAQ:AESE] by around 607,910 shares. Additionally, 6 investors decreased positions by around 62,152 shares, while 1 investors held positions by with 229,873 shares. The mentioned changes placed institutional holdings at 899,935 shares, according to the latest SEC report filing. AESE stock had 6 new institutional investments in for a total of 322,507 shares, while 5 institutional investors sold positions of 59,192 shares during the same period.