Genius Sports (NYSE:GENI) Shares Gap Up – Should You Buy?

Shares of Genius Sports Limited (NYSE:GENI) gapped up prior to trading 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.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GENI shares. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Genius Sports in a research note on Tuesday. Citizens Jmp downgraded shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Benchmark lifted their price objective on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup upped their target price on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, B. Riley raised their target price on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Genius Sports presently has an average rating of “Moderate Buy” and a consensus target price of $11.69.

Genius Sports Stock Up 9.2 %

The stock has a market cap of $1.96 billion, a P/E ratio of -28.43 and a beta of 2.15. The business’s 50 day simple moving average is $8.96 and its two-hundred day simple moving average is $8.41.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently bought and sold shares of GENI. Emerald Mutual Fund Advisers Trust bought a new stake in Genius Sports during the 4th quarter worth approximately $58,000. Captrust Financial Advisors acquired a new position in shares of Genius Sports during the third quarter worth $84,000. Walleye Trading LLC increased its holdings in Genius Sports by 169.9% in 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 period. Steward Partners Investment Advisory LLC raised its position in Genius Sports by 39.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock worth $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 4th quarter worth about $129,000. Institutional investors 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.