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Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) Drops -12.41%, But A Strong Recovery May Be Imminent

In last trading session, Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) saw 1.06 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $0.98 trading at -$0.14 or -12.41% at ring of the bell on the day assigns it a market valuation of $197.34M. That closing price of EGLX’s stock is at a discount of -383.67% from its 52-week high price of $4.74 and is indicating a discount of -12.24% from its 52-week low price of $1.10. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.37 million shares which gives us an average trading volume of 281.70K if we extend that period to 3-months.

Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) trade information

Upright in the red during last session for losing -12.41%, in the last five days EGLX remained trading in the red while hitting it’s week-highest on Monday, 09/19/22 when the stock touched $0.98 price level, adding 19.67% to its value on the day. Enthusiast Gaming Holdings Inc.’s shares saw a change of -66.63% in year-to-date performance and have moved -20.24% in past 5-day. Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) showed a performance of -30.43% in past 30-days. Number of shares sold short was 2.04 million shares which calculate 5.7 days to cover the short interests.

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Enthusiast Gaming Holdings Inc. (EGLX) estimates and forecasts

Statistics highlight that Enthusiast Gaming Holdings Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -67.52% of value to its shares in past 6 months, showing an annual growth rate of 26.47% while that of industry is 7.10. Apart from that, the company came raising its revenue forecast for fiscal year 2022.

EGLX Dividends

Enthusiast Gaming Holdings Inc. is more likely to be releasing its next quarterly report between November 08 and November 14 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX)’s Major holders

Insiders are in possession of 14.52% of company’s total shares while institution are holding 11.25 percent of that, with stock having share float percentage of 13.17%. Investors also watch the number of corporate investors in a company very closely, which is 11.25% institutions for Enthusiast Gaming Holdings Inc. that are currently holding shares of the company. Boothbay Fund Management, LLC is the top institutional holder at EGLX for having 4.3 million shares of worth $4.22 million. And as of Jun 29, 2022, it was holding 2.86% of the company’s outstanding shares.

The second largest institutional holder is Royce & Associates LP, which was holding about 1.61 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 1.07% of outstanding shares, having a total worth of $1.58 million.

On the other hand, Royce Smaller Companies Growth Fund and Listed Funds Tr-Roundhill BITKRAFT Esports & Digital Entertainment ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 1.0 million shares of worth $0.98 million or 0.66% of the total outstanding shares. The later fund manager was in possession of 0.58 million shares on Jun 29, 2022, making its stake of worth around $0.56 million in the company or a holder of 0.38% of company’s stock.

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