Genius Sports (NYSE:GENI) Shares Gap Up - Here's What Happened

Shares of Genius Sports Limited (NYSE:GENI - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $8.32, but opened at $8.94. Genius Sports shares last traded at $8.58, with a volume of 2,050,744 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Lake Street Capital boosted their target price on shares of Genius Sports from $10.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday. Citigroup boosted their price target on Genius Sports from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. The Goldman Sachs Group boosted their price target on Genius Sports from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Wednesday. Citizens Jmp lowered Genius Sports from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $12.00 price target on shares of Genius Sports in a research note on Tuesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.83.

Genius Sports Stock Up 2.3 %

The business has a fifty day moving average of $9.02 and a 200 day moving average of $8.46. The firm has a market cap of $2.09 billion, a P/E ratio of -30.42 and a beta of 2.14.

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

Institutional Investors Weigh In On Genius Sports

Several large investors have recently modified their holdings of GENI. Emerald Mutual Fund Advisers Trust bought a new position in shares of Genius Sports during the fourth quarter worth about $58,000. Captrust Financial Advisors bought a new position in shares of Genius Sports during the third quarter worth about $84,000. Walleye Trading LLC boosted its position in Genius Sports by 169.9% during the third quarter. Walleye Trading LLC now owns 12,155 shares of the company's stock valued at $95,000 after purchasing an additional 29,555 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Genius Sports by 39.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company's stock valued at $105,000 after purchasing an additional 3,429 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Genius Sports during the fourth quarter valued at approximately $129,000. 81.91% of the stock is currently owned by institutional investors.

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.