Allied Esports Entertainment Inc. [NASDAQ: AESE] gained 7.85% on the last trading session, reaching $2.06 price per share at the time. The company report on November 22, 2021 that Allied Esports Entertainment Announces Third Quarter 2021 Financial Results.
Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the “Company” or “AESE”), a global esports entertainment company, announced financial results for the third quarter ended September 30, 2021, as well as an update on key business initiatives and leadership. This release refers to “continuing” and “discontinued” operations due to the sale of the Company’s subsidiaries owning and operating its poker-related business, the World Poker Tour® (“World Poker Tour,” or “WPT®”) on July 12, 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, which is classified as discontinued operations.
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Commenting on the third quarter 2021 results, the Company’s CEO, Libing (Claire) Wu, said, “The third quarter was a very productive period for AESE highlighted by a strong quarter of growth from our Esports business. During the quarter, total revenues more than doubled from the prior quarter and increased over 182% compared to the third quarter last year. This growth was driven by a sharp recovery of the In-person pillar of our Esports business with the U.S. economy almost fully re-opened, coupled with a steady climb in Las Vegas foot traffic and the return of live entertainment events. That said, game publishers, who were our largest customers prior to the pandemic, have not yet resumed In-person events and could provide an additional boost to our In-person pillar when they resume normal activities. During the third quarter we also generated solid revenue contributions from our Multiplatform Content pillar and we continue to make strides towards monetizing our growing content library with key streaming partners as well as building out our production services capabilities through AE Studios.”.
Allied Esports Entertainment Inc. represents 38.96 million in outstanding shares, while the company has a total market value of $85.33 million with the latest information. AESE stock price has been found in the range of $1.82 to $2.08.
If compared to the average trading volume of 952.27K shares, AESE reached a trading volume of 4398895 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $3.50 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 3.00. 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.
Colliers Securities have made an estimate for Allied Esports Entertainment Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 25, 2021. While these analysts kept the previous recommendation, Stephens raised their target price to Overweight. The new note on the price target was released on December 18, 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 0.21, with the Price to Sales ratio for AESE stock in the period of the last 12 months amounting to 29.42. The Price to Book ratio for the last quarter was 2.78, with the Price to Cash per share for the same quarter was set at 0.19.
Trading performance analysis for AESE stock
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 -4.63. With this latest performance, AESE shares gained by 20.47% in over the last four-week period, additionally sinking by -13.08% over the last 6 months – not to mention a rise of 108.06% 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 53.41, with the RSI for the last a single of trading hit 51.25, and the three-weeks RSI is set at 53.90 for Allied Esports Entertainment Inc. [AESE]. The present Moving Average for the last 50 days of trading for this stock 1.85, while it was recorded at 2.08 for the last single week of trading, and 2.23 for the last 200 days.
Allied Esports Entertainment Inc. [AESE]: A deeper dive into fundamental analysis
Allied Esports Entertainment Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.
Allied Esports Entertainment Inc. [AESE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Allied Esports Entertainment Inc. posted -0.22/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -46.70%. 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.
An analysis of insider ownership at Allied Esports Entertainment Inc. [AESE]
There are presently around $3 million, or 20.90% of AESE stock, in the hands of institutional investors. The top three institutional holders of AESE stocks are: BLACKROCK INC. with ownership of 428,758, which is approximately -1.827% of the company’s market cap and around 13.50% of the total institutional ownership; VANGUARD GROUP INC, holding 378,718 shares of the stock with an approximate value of $0.78 million in AESE stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.33 million in AESE stock with ownership of nearly 0% of the company’s market capitalization.
7 institutional holders increased their position in Allied Esports Entertainment Inc. [NASDAQ:AESE] by around 143,381 shares. Additionally, 7 investors decreased positions by around 264,636 shares, while 3 investors held positions by with 920,034 shares. The mentioned changes placed institutional holdings at 1,328,051 shares, according to the latest SEC report filing. AESE stock had 6 new institutional investments in for a total of 137,203 shares, while 0 institutional investors sold positions of 0 shares during the same period.