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Esports Entertainment Group Inc. (GMBL)’s Stock Price Falls Due To Weak Fundamental Momentum

Esports Entertainment Group Inc. (NASDAQ:GMBL) has a beta value of 1.33 and has seen 10.43 million shares traded in the last trading session. The company, currently valued at $5.81M, closed the last trade at $0.08 per share which meant 3.70% during that session. The GMBL stock price is -4525.0% off its 52-week high price of $3.70 and 12.5% above the 52-week low of $0.07. If we look at the company’s 10-day average daily trading volume, we find that it stood at 12.07 million shares traded. The 3-month trading volume is 5.74 million shares.

The consensus among analysts is that Esports Entertainment Group Inc. (GMBL) is a Hold stock at the moment, with a recommendation rating of 3.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 2 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.18.

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Esports Entertainment Group Inc. (NASDAQ:GMBL) trade information

Sporting 3.70% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the GMBL stock price touched $0.08 or saw a rise of 12.85%. Year-to-date, Esports Entertainment Group Inc. shares have moved 9.66%, while the 5-day performance has seen it change 4.61%. Over the past 30 days, the shares of Esports Entertainment Group Inc. (NASDAQ:GMBL) have changed -10.35%. Short interest in the company has seen 2.42 million shares shorted with days to cover at 0.38.

Wall Street analysts have a consensus price target for the stock at $0.15, which means that the shares’ value could jump 46.67% from current levels. The projected low price target is $0.15 while the price target rests at a high of $0.15. In that case, then, we find that the current price level is -87.5% off the targeted high while a plunge would see the stock gain -87.5% from current levels.

Esports Entertainment Group Inc. (GMBL) estimates and forecasts

The company’s shares have lost -80.00% over the past 6 months, compared to 0.80% for the industry. Revenue growth from the last financial year stood is estimated to be -19.60%.

2 analysts offering their estimates for the company have set an average revenue estimate of $11.17 million for the current quarter. 2 have an estimated revenue figure of $11.24 million for the next quarter concluding in Dec 2022.

GMBL Dividends

Esports Entertainment Group Inc. is expected to release its next earnings report between February 20 and February 24 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Esports Entertainment Group Inc. (NASDAQ:GMBL)’s Major holders

Insiders own 6.87% of the company shares, while shares held by institutions stand at 4.06% with a share float percentage of 4.36%. Investors are also buoyed by the number of investors in a company, with Esports Entertainment Group Inc. having a total of 45 institutions that hold shares in the company. The top two institutional holders are Renaissance Technologies, LLC with over 0.67 million shares worth more than $0.28 million. As of Jun 29, 2022, Renaissance Technologies, LLC held 10.82% of shares outstanding.

The other major institutional holder is Susquehanna International Group, LLP, with the holding of over 0.42 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $0.17 million and represent 6.72% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. As of Jun 29, 2022, the former fund manager holds about 4.79% shares in the company for having 0.3 million shares of worth $0.12 million while later fund manager owns 0.11 million shares of worth $45931.0 as of Jun 29, 2022, which makes it owner of about 1.80% of company’s outstanding stock.

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