Esports Entertainment Group Inc. [GMBL] Is Currently 9.73 above its 200 Period Moving Avg: What Does This Mean?

Esports Entertainment Group Inc. [NASDAQ: GMBL] price surged by 9.73 percent to reach at $0.04. The company report on August 31, 2022 that Esports Entertainment Group CEO Grant Johnson to Speak at Next World Forum – Gaming & Esports Unleashed in Riyadh.

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Event hosted by the Saudi Esports Federation to focus on new opportunities in gaming and esports.

Hoboken, New Jersey–(Newsfile Corp. – August 31, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (“EEG”) today announced CEO, Grant Johnson, will speak at Next World Forum – Gaming & Esports Unleashed hosted by the Saudi Esports Federation in Riyadh, Saudi Arabia, on September 7-8.

A sum of 6144914 shares traded at recent session while its average daily volume was at 952.07K shares. Esports Entertainment Group Inc. shares reached a high of $0.519 and dropped to a low of $0.438 until finishing in the latest session at $0.48.

The one-year GMBL stock forecast points to a potential upside of 70.37. The average equity rating for GMBL stock is currently 2.20, 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 $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 2.20. 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 0.39.

GMBL Stock Performance Analysis:

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 -4.08. With this latest performance, GMBL shares gained by 20.72% in over the last four-week period, additionally sinking by -43.80% over the last 6 months – not to mention a drop of -94.63% 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 51.43, with the RSI for the last a single of trading hit 50.88, and the three-weeks RSI is set at 51.19 for Esports Entertainment Group Inc. [GMBL]. The present Moving Average for the last 50 days of trading for this stock 0.4439, while it was recorded at 0.4592 for the last single week of trading, and 1.7011 for the last 200 days.

Insight into Esports Entertainment Group Inc. 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.

Esports Entertainment Group Inc. [GMBL] Insider Position Details

There are presently around $1 million, or 7.00% of GMBL stock, in the hands of institutional investors. The top three institutional holders of GMBL stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 673,800, which is approximately -44.095% of the company’s market cap and around 8.80% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 418,653 shares of the stock with an approximate value of $0.2 million in GMBL stocks shares; and VANGUARD GROUP INC, currently with $0.15 million in GMBL stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Esports Entertainment Group Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 18 institutional holders increased their position in Esports Entertainment Group Inc. [NASDAQ:GMBL] by around 374,868 shares. Additionally, 19 investors decreased positions by around 1,699,321 shares, while 15 investors held positions by with 806,452 shares. The mentioned changes placed institutional holdings at 2,880,641 shares, according to the latest SEC report filing. GMBL stock had 8 new institutional investments in for a total of 249,949 shares, while 9 institutional investors sold positions of 576,904 shares during the same period.


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