Market Analysts see Esports Entertainment Group Inc. [GMBL] gaining to $22. Time to buy?


Esports Entertainment Group Inc. [NASDAQ: GMBL] slipped around -0.02 points on Friday, while shares priced at $0.40 at the close of the session, down -5.67%. The company report on May 23, 2022 that Esports Entertainment Group Reports Fiscal 2022 Third Quarter Revenue of $15.7 Million.

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Updates Fiscal 2022 Revenue Guidance to $55 to $60 Million.

Hoboken, New Jersey–(Newsfile Corp. – May 23, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) today announced financial results for its fiscal 2022 third quarter ended March 31, 2022.

Esports Entertainment Group Inc. stock is now -88.71% down from its year-to-date (YTD) trading value. GMBL Stock saw the intraday high of $0.48 and lowest of $0.3962 per share. The company’s 52-week high price is 12.11, which means current price is +32.07% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 842.65K shares, GMBL reached a trading volume of 680931 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $1.62 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.

ROTH Capital have made an estimate for Esports Entertainment Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 02, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on April 27, 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 Speculative Buy rating on GMBL stock.

The Average True Range (ATR) for Esports Entertainment Group Inc. is set at 0.06, with the Price to Sales ratio for GMBL stock in the period of the last 12 months amounting to 0.31.

How has GMBL stock performed recently?

Esports Entertainment Group Inc. [GMBL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.96. With this latest performance, GMBL shares dropped by -17.99% in over the last four-week period, additionally sinking by -90.24% over the last 6 months – not to mention a drop of -96.48% 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 43.00, with the RSI for the last a single of trading hit 44.20, and the three-weeks RSI is set at 40.67 for Esports Entertainment Group Inc. [GMBL]. The present Moving Average for the last 50 days of trading for this stock 0.5105, while it was recorded at 0.3847 for the last single week of trading, and 3.3348 for the last 200 days.

Esports Entertainment Group Inc. [GMBL]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Esports Entertainment Group Inc. [GMBL] shares currently have an operating margin of -132.80 and a Gross Margin at +31.84. Esports Entertainment Group Inc.’s Net Margin is presently recorded at -157.13.

Return on Total Capital for GMBL is now -47.31, given the latest momentum, and Return on Invested Capital for the company is -56.36. Return on Equity for this stock declined to -61.20, with Return on Assets sitting at -39.70. When it comes to the capital structure of this company, Esports Entertainment Group Inc. [GMBL] has a Total Debt to Total Equity ratio set at 10.75. Additionally, GMBL Total Debt to Total Capital is recorded at 9.71, with Total Debt to Total Assets ending up at 6.71. Long-Term Debt to Equity for the company is recorded at 9.90, with the Long-Term Debt to Total Capital now at 8.94.

Receivables Turnover for the company is 10.88 with a Total Asset Turnover recorded at a value of 0.25.Esports Entertainment Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

Insider trade positions for Esports Entertainment Group Inc. [GMBL]

There are presently around $2 million, or 10.30% of GMBL stock, in the hands of institutional investors. The top three institutional holders of GMBL stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 1,205,260, which is approximately 458.63% of the company’s market cap and around 8.30% of the total institutional ownership; D. E. SHAW & CO., INC., holding 535,044 shares of the stock with an approximate value of $0.21 million in GMBL stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $0.14 million in GMBL stock with ownership of nearly 9.401% of the company’s market capitalization.

Positions in Esports Entertainment Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 32 institutional holders increased their position in Esports Entertainment Group Inc. [NASDAQ:GMBL] by around 2,637,007 shares. Additionally, 18 investors decreased positions by around 1,018,983 shares, while 6 investors held positions by with 549,104 shares. The mentioned changes placed institutional holdings at 4,205,094 shares, according to the latest SEC report filing. GMBL stock had 14 new institutional investments in for a total of 1,190,607 shares, while 12 institutional investors sold positions of 992,150 shares during the same period.