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Friday, October 23, 2020

Renewed Optimism is Surrounding Allied Esports Entertainment Inc. (NASDAQ:AESE)

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Allied Esports Entertainment Inc. (AESE) shares are trading at higher $1.24 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $5.94 and the low is $0.40. Over the last 52 weeks, AESE is down -72.44% while the S&P 500 is up 16.45%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, AESE reported a profit of $2.77 million. Allied Esports Entertainment Inc. also saw revenues increase to $4.58 million. In addition, AESE has free cash flow of -$3.53 million as of 06-2020. The company’s EBITDA came in at -$2.66 million which compares well with its peers.

AESE Return on Equity (ROE) is -66.50%, and its Return on Assets is -41.80%. All told, it is clear that, AESE needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. AESE has a short ratio of 0.06 and outstanding shares of 26.21M.

Company Outlook

AESE has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.28 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.27. Allied Esports Entertainment Inc. AESE also noted assets of $69.91 million at the end of the last quarter. Investors should also keep an eye on sector updates as AESE has historically followed its peers on positive news.

All told, Allied Esports Entertainment Inc. AESE has strung together solid data and demonstrated underlying fundamentals. At its current valuation, AESE represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Allied Esports Entertainment Inc. AESE is now commanding a market cap of 37.30M and a float of 12.79M. AESE is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of AESE stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in AESE, either long or short, and we have not been compensated for this article.

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