Genius Sports (NYSE:GENI) Shares Gap Up to $5.42

Genius Sports Limited (NYSE:GENI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.42, but opened at $5.73. Genius Sports shares last traded at $5.44, with a volume of 1,002,842 shares trading hands.

Analysts Set New Price Targets

GENI has been the topic of several analyst reports. JMP Securities reissued a “market outperform” rating and issued a $8.00 target price on shares of Genius Sports in a report on Thursday, March 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Genius Sports in a research report on Thursday, April 4th. Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research report on Wednesday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.00 target price on shares of Genius Sports in a report on Monday, February 26th. Finally, Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Genius Sports in a report on Thursday, March 7th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $9.25.

Genius Sports Trading Up 2.4 %

The company has a market cap of $1.29 billion, a P/E ratio of -14.45 and a beta of 1.98. The business’s 50 day simple moving average is $5.74 and its 200 day simple moving average is $5.89.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.10). The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $126.53 million. Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) earnings per share. Sell-side analysts anticipate that Genius Sports Limited will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds have recently made changes to their positions in the business. Voss Capital LLC bought a new stake in Genius Sports during the 4th quarter valued at approximately $3,244,000. Wellington Management Group LLP grew its holdings in Genius Sports by 2,189.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,504,922 shares of the company’s stock valued at $8,021,000 after buying an additional 1,439,184 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Genius Sports by 9.9% during the fourth quarter. ARK Investment Management LLC now owns 6,914,013 shares of the company’s stock valued at $42,729,000 after buying an additional 620,472 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Genius Sports in the third quarter worth $1,366,000. Finally, Essex Investment Management Co. LLC purchased a new position in Genius Sports during the third quarter valued at $1,093,000. Institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

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.