Maxim Group slashes price target on Elys Game Technology Corp. [ELYS] – find out why.

Elys Game Technology Corp. [NASDAQ: ELYS] gained 47.09% or 0.05 points to close at $0.17 with a heavy trading volume of 13578445 shares. The company report on November 23, 2022 that Elys Game Technology Granted Conditional License Approval in Ohio.

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The Company has commenced programming of its technology platform to comply with betting compliance specifications of the Ohio Lottery and has entered into an agreement to purchase 100 point of sale terminals and 100 self-service betting terminals for installation at host locations throughout Ohio. The Company is committed to processing any further requirements and certifications to commence operations as soon as practicable, and to providing the best possible product for sports bettors and for our host operators in Ohio.

It opened the trading session at $0.121, the shares rose to $0.279 and dropped to $0.121, the range by which the price of stock traded the whole day. The daily chart for ELYS points out that the company has recorded -77.91% loss over the past six months. However, it is still -54.55% lower than its most recent low trading price.

If we look at the average trading volume of 592.54K shares, ELYS reached to a volume of 13578445 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 Elys Game Technology Corp. [ELYS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ELYS shares is $2.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ELYS 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.

Maxim Group have made an estimate for Elys Game Technology Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 26, 2021.

The Average True Range (ATR) for Elys Game Technology Corp. is set at 0.04, with the Price to Sales ratio for ELYS stock in the period of the last 12 months amounting to 0.08. The Price to Book ratio for the last quarter was 0.33, with the Price to Cash per share for the same quarter was set at 0.23.

Trading performance analysis for ELYS stock

Elys Game Technology Corp. [ELYS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 34.10. With this latest performance, ELYS shares dropped by -13.61% in over the last four-week period, additionally sinking by -77.91% over the last 6 months – not to mention a drop of -94.89% 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 ELYS stock in for the last two-week period is set at 48.64, with the RSI for the last a single of trading hit 57.82, and the three-weeks RSI is set at 42.53 for Elys Game Technology Corp. [ELYS]. The present Moving Average for the last 50 days of trading for this stock 0.2417, while it was recorded at 0.1304 for the last single week of trading, and 0.8861 for the last 200 days.

Elys Game Technology Corp. [ELYS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Elys Game Technology Corp. [ELYS] shares currently have an operating margin of -20.96 and a Gross Margin at +97.03. Elys Game Technology Corp.’s Net Margin is presently recorded at -33.07.

Return on Equity for this stock declined to -79.50, with Return on Assets sitting at -37.46.

Elys Game Technology Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

An analysis of insider ownership at Elys Game Technology Corp. [ELYS]

There are presently around $0 million, or 8.40% of ELYS stock, in the hands of institutional investors. The top three institutional holders of ELYS stocks are: ARMISTICE CAPITAL, LLC with ownership of 1,986,000, which is approximately -12.065% of the company’s market cap and around 4.50% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 113,300 shares of the stock with an approximate value of $20000.0 in ELYS stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $11000.0 in ELYS stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Elys Game Technology Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 8 institutional holders increased their position in Elys Game Technology Corp. [NASDAQ:ELYS] by around 114,276 shares. Additionally, 9 investors decreased positions by around 530,915 shares, while 5 investors held positions by with 1,895,715 shares. The mentioned changes placed institutional holdings at 2,540,906 shares, according to the latest SEC report filing. ELYS stock had 4 new institutional investments in for a total of 86,926 shares, while 1 institutional investors sold positions of 27,094 shares during the same period.


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