Needham slashes price target on Genius Sports Limited [GENI] – find out why.

Genius Sports Limited [NYSE: GENI] traded at a low on 07/20/21, posting a -4.22 loss after which it closed the day’ session at $14.51. The company report on July 15, 2021 that Genius Sports Announces Strategic Partnership With MEDIAPRO Canada to Accelerate the Growth of Canadian Soccer.

Genius Sports announces strategic partnership with MEDIAPRO Canada, to grow Canadian soccer fan engagement.

Strategic partnership will further strengthen both Genius Sports and MEDIAPRO’s existing relationships with Canadian Soccer Business.

The results of the trading session contributed to over 2738000 shares changing hands. Over the past one week, the price volatility of Genius Sports Limited stands at 6.62% while the volatility over the past one month is 5.31%.

The market cap for GENI stock reached $2.74 billion, with 191.51 million shares outstanding and 58.66 million shares in the current float. Compared to the average trading volume of 1.53M shares, GENI reached a trading volume of 2738000 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Genius Sports Limited [GENI]?

Needham have made an estimate for Genius Sports Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 07, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on June 02, 2021, representing the official price target for Genius Sports Limited stock. Previously, the target price had yet another raise to $25, while Oppenheimer analysts kept a Outperform rating on GENI stock.

The Average True Range (ATR) for Genius Sports Limited is set at 0.96, with the Price to Sales ratio for GENI stock in the period of the last 12 months amounting to 16.32. The Price to Book ratio for the last quarter was 1.87, with the Price to Cash per share for the same quarter was set at 0.01.

How has GENI stock performed recently?

Genius Sports Limited [GENI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.84. With this latest performance, GENI shares dropped by -19.39% in over the last four-week period, additionally sinking by -13.32% over the last 6 months.

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 GENI stock in for the last two-week period is set at 29.96, with the RSI for the last a single of trading hit 22.92, and the three-weeks RSI is set at 34.35 for Genius Sports Limited [GENI]. The present Moving Average for the last 50 days of trading for this stock 19.00, while it was recorded at 15.34 for the last single week of trading.

Genius Sports Limited [GENI]: Deeper insight into the fundamentals

Reflecting on the efficiency of the workforce at the company, Genius Sports Limited [GENI] managed to generate an average of -$314,181 per employee.Genius Sports Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

Insider trade positions for Genius Sports Limited [GENI]

There are presently around $400 million, or 14.80% of GENI stock, in the hands of institutional investors. The top three institutional holders of GENI stocks are: FRED ALGER MANAGEMENT, LLC with ownership of 5,069,736, which is approximately 56.892% of the company’s market cap and around 19.25% of the total institutional ownership; GRANAHAN INVESTMENT MANAGEMENT INC/MA, holding 3,376,177 shares of the stock with an approximate value of $48.99 million in GENI stocks shares; and MASSACHUSETTS FINANCIAL SERVICES CO /MA/, currently with $36.93 million in GENI stock with ownership of nearly 140.285% of the company’s market capitalization.

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Positions in Genius Sports Limited stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 62 institutional holders increased their position in Genius Sports Limited [NYSE:GENI] by around 13,424,509 shares. Additionally, 38 investors decreased positions by around 7,285,370 shares, while 5 investors held positions by with 6,885,172 shares. The mentioned changes placed institutional holdings at 27,595,051 shares, according to the latest SEC report filing. GENI stock had 40 new institutional investments in for a total of 7,922,380 shares, while 26 institutional investors sold positions of 6,097,613 shares during the same period.

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