Genius Sports (NYSE:GENI) Sets New 52-Week High - What's Next?

Genius Sports Limited (NYSE:GENI - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $10.37 and last traded at $10.36, with a volume of 3154750 shares changing hands. The stock had previously closed at $10.05.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GENI shares. The Goldman Sachs Group increased their price target on shares of Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Lake Street Capital raised their price target on Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Craig Hallum set a $15.00 price target on Genius Sports in a report on Tuesday, March 4th. Needham & Company LLC set a $13.00 price objective on Genius Sports in a research note on Wednesday, March 5th. Finally, JMP Securities reissued a "market outperform" rating and issued a $11.00 target price on shares of Genius Sports in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Genius Sports currently has an average rating of "Moderate Buy" and a consensus target price of $12.23.

Genius Sports Trading Up 5.7 %

The company has a market cap of $2.37 billion, a price-to-earnings ratio of -34.39 and a beta of 2.14. The stock's 50 day moving average price is $9.17 and its 200 day moving average price is $8.60.

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Genius Sports (NYSE:GENI - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). The company had revenue of $175.53 million for the quarter, compared to analyst estimates of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same period last year, the company posted ($0.10) EPS. On average, equities analysts expect that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. Polar Asset Management Partners Inc. acquired a new stake in Genius Sports during the fourth quarter worth about $8,080,000. Castleark Management LLC purchased a new position in Genius Sports in the fourth quarter valued at approximately $3,962,000. Two Sigma Investments LP acquired a new position in Genius Sports during the fourth quarter valued at approximately $227,000. State of Wyoming increased its position in shares of Genius Sports by 8.3% in the fourth quarter. State of Wyoming now owns 45,630 shares of the company's stock worth $395,000 after acquiring an additional 3,495 shares in the last quarter. Finally, Sycale Advisors NY LLC purchased a new position in shares of Genius Sports in the 4th quarter valued at $12,113,000. Institutional investors and hedge funds own 81.91% of the company's stock.

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.