Esports Entertainment Group Inc. [GMBL] moved up 9.23: Why It’s Important

Esports Entertainment Group Inc. [NASDAQ: GMBL] gained 9.23% on the last trading session, reaching $12.90 price per share at the time. The company report on April 22, 2021 that Esports Entertainment Group Becomes Official Gambling Sponsor of Beyond the Summit’s Upcoming CS:GO Tournament.

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Newark, New Jersey–(Newsfile Corp. – April 22, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL), (NASDAQ: GMBLW) (or the “Company”), an esports and online gambling company, announced its VIE.bet brand is the official sponsor of Beyond the Summit’s (“BTS”) upcoming CS:GO tournament, taking place online from May 14 to May 30, 2021.

“The Summit, produced by BTS, has always been an event that is exciting and entertaining across all esports communities,” stated Bux Syed, Director of VIE. “Whether its CS:GO, Dota 2 or Smash Bros., the uniqueness of this event catches viewers from all over the world. My team and I are very excited to partner with BTS for this event.”.

Esports Entertainment Group Inc. represents 12.88 million in outstanding shares, while the company has a total market value of $222.27 million with the latest information. GMBL stock price has been found in the range of $12.55 to $14.39.

If compared to the average trading volume of 1.90M shares, GMBL reached a trading volume of 4465115 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Esports Entertainment Group Inc. [GMBL]:

H.C. Wainwright have made an estimate for Esports Entertainment Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 27, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Speculative Buy. The new note on the price target was released on March 29, 2021, representing the official price target for Esports Entertainment Group Inc. stock. Previously, the target price had yet another raise to $20, while The Benchmark Company analysts kept a Buy rating on GMBL stock.

The Average True Range (ATR) for Esports Entertainment Group Inc. is set at 1.55, with the Price to Sales ratio for GMBL stock in the period of the last 12 months amounting to 85.49. The Price to Book ratio for the last quarter was 11.83, with the Price to Cash per share for the same quarter was set at 0.33.

Trading performance analysis for GMBL stock

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 22.97. With this latest performance, GMBL shares dropped by -12.84% in over the last four-week period, additionally plugging by 180.43% over the last 6 months – not to mention a rise of 269.63% in the past year of trading.

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 48.14, with the RSI for the last a single of trading hit 52.94, and the three-weeks RSI is set at 48.00 for Esports Entertainment Group Inc. [GMBL]. The present Moving Average for the last 50 days of trading for this stock 15.29, while it was recorded at 11.32 for the last single week of trading, and 8.15 for the last 200 days.

Esports Entertainment Group Inc. [GMBL]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Esports Entertainment Group Inc. [GMBL]

There are presently around $5 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 32.08% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 47,775 shares of the stock with an approximate value of $0.62 million in GMBL stocks shares; and SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC, currently with $0.52 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 June and at the time of the June reporting period, where 19 institutional holders increased their position in Esports Entertainment Group Inc. [NASDAQ:GMBL] by around 320,479 shares. Additionally, 7 investors decreased positions by around 23,485 shares, while 0 investors held positions by with 81,435 shares. The mentioned changes placed institutional holdings at 425,399 shares, according to the latest SEC report filing. GMBL stock had 15 new institutional investments in for a total of 237,923 shares, while 4 institutional investors sold positions of 5,968 shares during the same period.

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