Genius Sports (NYSE:GENI) Shares Gap Down to $6.04

Genius Sports Limited (NYSE:GENI) gapped down prior to trading on Thursday . The stock had previously closed at $6.04, but opened at $5.41. Genius Sports shares last traded at $5.38, with a volume of 2,479,001 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Benchmark upped their target price on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. BTIG Research increased their price objective on shares of Genius Sports from $6.00 to $9.00 in a research report on Tuesday, July 11th. JMP Securities reiterated a “market outperform” rating and set a $9.00 price objective on shares of Genius Sports in a research note on Tuesday, September 5th. Lake Street Capital upped their target price on shares of Genius Sports from $7.00 to $8.50 in a research note on Tuesday, August 8th. Finally, Citigroup lifted their price target on shares of Genius Sports from $7.00 to $9.00 in a research note on Wednesday, July 19th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $9.28.

Genius Sports Stock Performance

The company’s fifty day simple moving average is $6.92 and its two-hundred day simple moving average is $5.63. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -6.40 and a beta of 1.97.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Genius Sports had a negative return on equity of 13.95% and a negative net margin of 46.77%. The firm had revenue of $86.90 million during the quarter, compared to analyst estimates of $80.57 million. During the same period in the previous year, the company earned ($0.02) earnings per share. Genius Sports’s quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts anticipate that Genius Sports Limited will post -0.22 EPS for the current year.

Institutional Trading of Genius Sports

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC bought a new stake in shares of Genius Sports in the 1st quarter worth approximately $9,281,000. Portolan Capital Management LLC grew its position in shares of Genius Sports by 117.1% during the first quarter. Portolan Capital Management LLC now owns 3,410,041 shares of the company’s stock worth $16,982,000 after acquiring an additional 1,839,544 shares during the last quarter. Divisadero Street Capital Management LP grew its position in shares of Genius Sports by 196.1% during the second quarter. Divisadero Street Capital Management LP now owns 2,369,000 shares of the company’s stock worth $14,664,000 after acquiring an additional 1,569,000 shares during the last quarter. Granahan Investment Management LLC increased its holdings in shares of Genius Sports by 13.0% in the 1st quarter. Granahan Investment Management LLC now owns 10,567,728 shares of the company’s stock worth $52,627,000 after acquiring an additional 1,212,557 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Genius Sports by 209.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,571,529 shares of the company’s stock valued at $5,768,000 after purchasing an additional 1,063,540 shares during the last quarter. Institutional investors own 43.24% of the company’s stock.

About Genius Sports

Genius Sports Limited develops and sells 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.