Sabby Management LLC recently announced the acquisition of new stake in Esports Entertainment Group Inc. (NASDAQ:GMBL). The institutional investor has increased its shareholding in the Consumer Cyclical company by 982.43% to 1.15 million shares with purchase of 1.05 million shares. This fresh investment now brings its stake to 1.63% valued currently at $0.16 million. In addition, Walleye Capital LLC raised its holdings by 0.95 million to 0.95 million shares.
With over 6.86 million Esports Entertainment Group Inc. (GMBL) shares trading Tuesday and a closing price of $0.12 on the day, the dollar volume was approximately $0.82 million. The shares have shown a negative half year performance of -74.07% and its price on 11/29/22 gained nearly 8.85%. Currently, there are 70.92M common shares owned by the public and among those 66.05M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for GMBL have a consensus price objective of $0.15. The analysts have set the share’s price value over the next 12 months at a high of $0.15 and a low of $0.15. But an upside of 20.0% will see the stock hit the forecast high price target while median target price for the stock is $0.15.
Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 3,603,334 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 3,353,334 shares.
The top 3 mutual fund holders in Esports Entertainment Group Inc. are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Fidelity Series Total Market Inde. Vanguard Extended Market Index Fu owns 0.34 million shares of the company’s stock, all valued at over $47059.0. Fidelity Series Total Market Inde now owns shares totaling to 0.05% of the shares outstanding.
However, the script later moved the day high at 0.1282, up 8.85%. The company’s stock has a 5-day price change of 19.18% and -72.70% over the past three months. GMBL shares are trading -96.60% year to date (YTD), with the 12-month market performance down to -97.70% lower. It has a 12-month low price of $0.09 and touched a high of $5.34 over the same period. GMBL has an average intraday trading volume of 4.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.86%, -6.87%, and -77.65% respectively.
Institutional ownership of Esports Entertainment Group Inc. (NASDAQ: GMBL) shares accounts for 7.40% of the company’s 70.92M shares outstanding. Mutual fund holders own 5.34%, while other institutional holders and individual stakeholders account for 6.67% and 0.74% respectively.
It has a market capitalization of $6.93M and a beta (3y monthly) value of 1.22. The earnings-per-share (ttm) stands at -$3.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.78% over the week and 15.76% over the month.
Analysts forecast that Esports Entertainment Group Inc. (GMBL) will achieve an EPS of -$0.18 for the current quarter, -$0.1 for the next quarter and -$0.42 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.24 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -112.40%, and 0.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Esports Entertainment Group Inc. (GMBL) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GMBL, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on November 02, 2021, with the firm’s price target at $22. H.C. Wainwright coverage for the Esports Entertainment Group Inc. (GMBL) stock in a research note released on April 27, 2021 offered a Buy rating with a price target of $20. The Benchmark Company was of a view on March 29, 2021 that the stock is Speculative Buy, while The Benchmark Company gave the stock Buy rating on March 29, 2021, issuing a price target of $20. Maxim Group on their part issued Buy rating on March 25, 2021.