Genius Sports (NYSE:GENI) Shares Gap Up – Here’s Why

Genius Sports Limited (NYSE:GENI)’s stock price 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 changing hands.

Wall Street Analyst Weigh In

GENI has been the topic of a number of recent analyst reports. Oppenheimer boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Citizens Jmp lowered shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Macquarie increased their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of Genius Sports in a research note on Tuesday. Finally, Citigroup raised 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. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Genius Sports presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.69.

Genius Sports Price Performance

The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -28.43 and a beta of 2.15. The company’s fifty day simple moving average is $8.96 and its two-hundred day simple moving average is $8.41.

Hedge Funds Weigh In On Genius Sports

Several large investors have recently added to or reduced their stakes in GENI. Capital Research Global Investors increased its holdings in Genius Sports by 14.2% during the 4th quarter. Capital Research Global Investors now owns 12,952,320 shares of the company’s stock worth $112,038,000 after purchasing an additional 1,610,078 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Genius Sports by 2.9% during the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after buying an additional 230,209 shares in the last quarter. Granahan Investment Management LLC boosted its stake in shares of Genius Sports by 0.8% in the 4th quarter. Granahan Investment Management LLC now owns 7,963,691 shares of the company’s stock worth $68,886,000 after buying an additional 64,752 shares during the last quarter. Voss Capital LP grew its holdings in shares of Genius Sports by 16.7% in the fourth quarter. Voss Capital LP now owns 7,923,432 shares of the company’s stock valued at $68,538,000 after acquiring an additional 1,134,029 shares in the last quarter. Finally, Senvest Management LLC increased its position in shares of Genius Sports by 12.2% during the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after acquiring an additional 819,385 shares during the last quarter. 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.