Genius Sports (NYSE:GENI) Sees Large Volume Increase – Here’s What Happened

Genius Sports Limited (NYSE:GENI) saw strong trading volume on Wednesday . 1,920,414 shares changed hands 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Oppenheimer raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. B. Riley raised their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Benchmark upped their price objective on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $11.00 price target on shares of Genius Sports in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Genius Sports currently has an average rating of “Moderate Buy” and a consensus target price of $10.94.

Genius Sports Stock Up 0.6 %

The company has a 50 day simple moving average of $9.09 and a 200 day simple moving average of $7.75. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -27.42 and a beta of 2.15.

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

Institutional Trading of Genius Sports

A number of institutional investors and hedge funds have recently made changes to their positions in GENI. AMI Asset Management Corp acquired a new position in Genius Sports during the 4th quarter worth $560,000. Moody National Bank Trust Division boosted its stake in shares of Genius Sports by 1.5% during the 4th quarter. Moody National Bank Trust Division now owns 520,214 shares of the company’s stock worth $4,500,000 after acquiring an additional 7,674 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Genius Sports by 56.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 491,314 shares of the company’s stock worth $4,250,000 after purchasing an additional 176,845 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Genius Sports by 2,765,692.0% during the third quarter. JPMorgan Chase & Co. now owns 691,448 shares of the company’s stock valued at $5,421,000 after acquiring an additional 691,423 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Genius Sports during the 3rd quarter valued at $371,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Genius Sports

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.