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Is EBET Inc. (NASDAQ: EBET) Stock Poised for More Growth?

In the last trading session, 190.64 million EBET Inc. (NASDAQ:EBET) shares changed hands as the company’s beta touched 1.19. With the company’s per share price at $0.05 changed hands at $0.01 or 31.33% during last session, the market valuation stood at $18.77M. EBET’s last price was a discount, traded about -5220.0% off its 52-week high of $2.66. The share price had its 52-week low at $0.03, which suggests the last value was 40.0% up since then. When we look at EBET Inc.’s average trading volume, we note the 10-day average is 93.92 million shares, with the 3-month average coming to 94.11 million.

Analysts gave the EBET Inc. (EBET) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended EBET as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. EBET Inc.’s EPS for the current quarter is expected to be $0.

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EBET Inc. (NASDAQ:EBET) trade information

Instantly EBET was in green as seen at the end of in last trading. With action 31.01%, the performance over the past five days has been green. The jump to weekly highs of 0.0545 on Friday, 09/15/23 added 31.33% to the stock’s daily price. The company’s shares are showing year-to-date downside of -91.35%, with the 5-day performance at 31.01% in the green. However, in the 30-day time frame, EBET Inc. (NASDAQ:EBET) is -37.21% down. Looking at the short shares, we see there were 21.35 million shares sold at short interest cover period of 0.13 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.00, meaning bulls need an upside of 98.33% from its current market value. According to analyst projections, EBET’s forecast low is $3.00 with $3.00 as the target high. To hit the forecast high, the stock’s price needs a -5900.0% plunge from its current level, while the stock would need to soar -5900.0% for it to hit the projected low.

EBET Inc. (EBET) estimates and forecasts

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $17.8 million. 1 analysts are of the opinion that EBET Inc.’s revenue for the quarter ending Dec 2022 will be $18.9 million. The estimates for the next quarter sales put growth at 164.70%.

The 2023 estimates are for EBET Inc. earnings to decrease by -133.30%.

EBET Dividends

EBET Inc. is expected to release its next quarterly earnings report in October.

EBET Inc. (NASDAQ:EBET)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 13.13% of EBET Inc. shares while 10.46% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 12.04%. There are 10.46% institutions holding the EBET Inc. stock share, with Nantahala Capital Management, LLC the top institutional holder. As of Jun 29, 2023, the company held 0.24% of the shares, roughly 1.07 million EBET shares worth $0.13 million.

NewGen Asset Management Ltd. holds the second largest percentage of outstanding shares, with 0.20% or 0.9 million shares worth $0.11 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were TIFF Multi-Asset Fund and Fidelity Extended Market Index Fund. With 0.17 million shares estimated at $20381.0 under it, the former controlled 0.04% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.01% of the shares, roughly 55314.0 shares worth around $12783.0.

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