Esports Entertainment Group Inc. [GMBL] Stock trading around $19.78 per share: What’s Next?

Esports Entertainment Group Inc. [NASDAQ: GMBL] price surged by 10.75 percent to reach at $1.92. The company report on March 1, 2021 that Esports Entertainment Group Completes Acquisition of Online Casino Operator Lucky Dino.

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Lucky Dino generated $21.5M revenue and $4.0M EBITDA in FY20. Cross-sell opportunities with 25K monthly active players.

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Newark, New Jersey–(Newsfile Corp. – March 1, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL), (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, announced that its Malta gaming licensed subsidiary, Esport Entertainment (Malta) Limited, completed its acquisition of the business assets of Lucky Dino Gaming Limited (“Lucky Dino”), an established Malta licensed online casino operator with its own proprietary casino platform. The ~$30 million deal was financed through cash raised in an equity offering in February.

A sum of 2830817 shares traded at recent session while its average daily volume was at 1.39M shares. Esports Entertainment Group Inc. shares reached a high of $21.65 and dropped to a low of $17.7208 until finishing in the latest session at $19.78.

The one-year GMBL stock forecast points to a potential upside of 1.1. The average equity rating for GMBL stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Esports Entertainment Group Inc. [GMBL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GMBL shares is $20.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GMBL stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Esports Entertainment Group Inc. is set at 2.88, with the Price to Sales ratio for GMBL stock in the period of the last 12 months amounting to 147.59. The Price to Book ratio for the last quarter was 18.15, with the Price to Cash per share for the same quarter was set at 0.29.

GMBL Stock Performance Analysis:

Esports Entertainment Group Inc. [GMBL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.02. With this latest performance, GMBL shares gained by 168.75% in over the last four-week period, additionally plugging by 302.03% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GMBL stock in for the last two-week period is set at 68.11, with the RSI for the last a single of trading hit 68.22, and the three-weeks RSI is set at 68.05 for Esports Entertainment Group Inc. [GMBL]. The present Moving Average for the last 50 days of trading for this stock 10.31, while it was recorded at 18.06 for the last single week of trading, and 6.50 for the last 200 days.

Insight into Esports Entertainment Group Inc. Fundamentals:

Return on Total Capital for GMBL is now -121.03, given the latest momentum, and Return on Invested Capital for the company is -323.42. Return on Equity for this stock declined to -323.42, with Return on Assets sitting at -151.17.

Esports Entertainment Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Esports Entertainment Group Inc. [GMBL] Insider Position Details

There are presently around $7 million, or 1.90% of GMBL stock, in the hands of institutional investors. The top three institutional holders of GMBL stocks are: VANGUARD GROUP INC with ownership of 99,620, which is approximately 289.872% of the company’s market cap and around 0.50% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 47,775 shares of the stock with an approximate value of $0.85 million in GMBL stocks shares; and SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC, currently with $0.72 million in GMBL stock with ownership of nearly -22.527% of the company’s market capitalization.

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Positions in Esports Entertainment Group Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 14 institutional holders increased their position in Esports Entertainment Group Inc. [NASDAQ:GMBL] by around 227,428 shares. Additionally, 8 investors decreased positions by around 23,630 shares, while 0 investors held positions by with 81,290 shares. The mentioned changes placed institutional holdings at 332,348 shares, according to the latest SEC report filing. GMBL stock had 10 new institutional investments in for a total of 144,872 shares, while 5 institutional investors sold positions of 6,113 shares during the same period.

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