Esports Entertainment Group Inc. [NASDAQ: GMBL] loss -3.54% on the last trading session, reaching $0.17 price per share at the time. The company report on September 15, 2022 that Esports Entertainment Group Announces Pricing of $7.5 Million Public Offering of Common Stock and Warrants.
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Hoboken, New Jersey–(Newsfile Corp. – September 15, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (the “Company”) today announced the pricing of its previously announced underwritten public offering of 30,000,000 shares of common stock and accompanying warrants to purchase 30,000,000 shares of common stock. Each share of common stock is being sold together with one common warrant at a combined effective offering price of $0.25. The common warrants will be immediately exercisable at a price of $0.25 per share of common stock and will expire five years from the date of issuance. The shares of common stock and the accompanying common warrants can only be purchased together in the offering, but will be issued separately and will be immediately separable upon issuance. Esports Entertainment Group has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 shares of common stock and/or additional warrants to purchase up to 4,500,000 shares of common stock.
Maxim Group LLC and Joseph Gunnar & Co., LLC are acting as book-running managers for the offering.
Esports Entertainment Group Inc. represents 40.92 million in outstanding shares, while the company has a total market value of $12.83 million with the latest information. GMBL stock price has been found in the range of $0.162 to $0.175.
If compared to the average trading volume of 1.88M shares, GMBL reached a trading volume of 8345117 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]:
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 0.07, with the Price to Sales ratio for GMBL stock in the period of the last 12 months amounting to 0.23.
Trading performance analysis for GMBL stock
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 -64.44. With this latest performance, GMBL shares dropped by -67.88% in over the last four-week period, additionally sinking by -80.02% over the last 6 months – not to mention a drop of -97.77% 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 23.83, with the RSI for the last a single of trading hit 16.47, and the three-weeks RSI is set at 29.33 for Esports Entertainment Group Inc. [GMBL]. The present Moving Average for the last 50 days of trading for this stock 0.4341, while it was recorded at 0.3064 for the last single week of trading, and 1.3935 for the last 200 days.
Esports Entertainment Group Inc. [GMBL]: A deeper dive into fundamental analysis
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.
An analysis of insider ownership at Esports Entertainment Group Inc. [GMBL]
There are presently around $0 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 $71000.0 in GMBL stocks shares; and VANGUARD GROUP INC, currently with $51000.0 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, 18 investors decreased positions by around 1,698,871 shares, while 16 investors held positions by with 807,569 shares. The mentioned changes placed institutional holdings at 2,881,308 shares, according to the latest SEC report filing. GMBL stock had 8 new institutional investments in for a total of 249,949 shares, while 8 institutional investors sold positions of 576,454 shares during the same period.