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Why Esports Entertainment Group Inc. (NASDAQ: GMBL) Stock Shouldn’t Be Sold In 2023

In the last trading session, 9.0 million Esports Entertainment Group Inc. (NASDAQ:GMBL) shares changed hands as the company’s beta touched 1.39. With the company’s per share price at $0.12 changed hands at $0.0 or -2.04% during last session, the market valuation stood at $5.20M. GMBL’s last price was a discount, traded about -33133.33% off its 52-week high of $39.88. The share price had its 52-week low at $0.10, which suggests the last value was 16.67% up since then. When we look at Esports Entertainment Group Inc.’s average trading volume, we note the 10-day average is 8.0 million shares, with the 3-month average coming to 6.95 million.

Analysts gave the Esports Entertainment Group Inc. (GMBL) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. 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, 1 recommended GMBL as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Esports Entertainment Group Inc.’s EPS for the current quarter is expected to be -$2.92.

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

Instantly GMBL was in red as seen at the end of in last trading. With action 5.54%, the performance over the past five days has been green. The drop to weekly highs of 0.1618 on Friday, 09/15/23 subtracted -2.04% to the stock’s daily price. The company’s shares are showing year-to-date downside of -98.43%, with the 5-day performance at 5.54% in the green. However, in the 30-day time frame, Esports Entertainment Group Inc. (NASDAQ:GMBL) is -50.00% down. Looking at the short shares, we see there were 2.35 million shares sold at short interest cover period of 0.16 days.

The consensus price target for the stock as assigned by Wall Street analysts is $2.00, meaning bulls need an upside of 94.0% from its current market value. According to analyst projections, GMBL’s forecast low is $2.00 with $2.00 as the target high. To hit the forecast high, the stock’s price needs a -1566.67% plunge from its current level, while the stock would need to soar -1566.67% for it to hit the projected low.

Esports Entertainment Group Inc. (GMBL) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Esports Entertainment Group Inc. will rise 79.10%. Year-over-year growth is forecast to reach -60.30% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $2.97 million. 1 analysts are of the opinion that Esports Entertainment Group Inc.’s revenue for the quarter ending Sep 2023 will be $13 million. The company’s revenue for the corresponding quarters a year ago was $11.71 million and $11.17 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -74.60%. The estimates for the next quarter sales put growth at 16.40%.

The 2023 estimates are for Esports Entertainment Group Inc. earnings to decrease by -112.40%.

GMBL Dividends

Esports Entertainment Group Inc. is expected to release its next quarterly earnings report in October.

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

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