Market cap of Esports Entertainment Group Inc. [GMBL] reaches 6.42M – now what?

Esports Entertainment Group Inc. [NASDAQ: GMBL] traded at a low on 12/27/22, posting a -6.75 loss after which it closed the day’ session at $0.09. The company report on December 23, 2022 that Esports Entertainment Group Announces Alex Igelman as Chief Executive Officer.

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St. Julians, Malta–(Newsfile Corp. – December 23, 2022) –  Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLP) (NASDAQ: GMBLW) (NASDAQ: GMBLZ) (or the “Company” or “EEG”) today announced the appointment of Alex Igelman as Chief Executive Officer (“CEO”) following the departure of Grant Johnson on December 3, 2022, who served as Chairman and CEO.

Mr. Igelman joins the Company as CEO with more than 30 years of experience in the gaming industry. He is a gaming lawyer and the co-founder of FairP2P and Esports Capital Corp., entities which have been leaders in their respective sectors. During his career, Mr. Igelman worked across the gambling and gaming industry in a variety of senior leadership positions. “We are excited to have Alex join the senior leadership team. He brings a wealth of knowledge, experience, and fresh perspective as we move the company forward. We welcome Alex to the Company,” said Jan Jones Blackhurst, Chair of the Board of Directors.

The results of the trading session contributed to over 13718126 shares changing hands. Over the past one week, the price volatility of Esports Entertainment Group Inc. stands at 15.07% while the volatility over the past one month is 12.89%.

The market cap for GMBL stock reached $6.42 million, with 77.99 million shares outstanding and 73.12 million shares in the current float. Compared to the average trading volume of 3.52M shares, GMBL reached a trading volume of 13718126 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]?

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 0.01, with the Price to Sales ratio for GMBL stock in the period of the last 12 months amounting to 0.12.

How has GMBL stock performed recently?

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 2.43. With this latest performance, GMBL shares dropped by -23.06% in over the last four-week period, additionally sinking by -78.85% over the last 6 months – not to mention a drop of -97.83% 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 39.07, with the RSI for the last a single of trading hit 37.47, and the three-weeks RSI is set at 39.45 for Esports Entertainment Group Inc. [GMBL]. The present Moving Average for the last 50 days of trading for this stock 0.1166, while it was recorded at 0.0908 for the last single week of trading, and 0.3747 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 -73.02 and a Gross Margin at +37.37. Esports Entertainment Group Inc.’s Net Margin is presently recorded at -175.20.

Return on Equity for this stock declined to -288.12, with Return on Assets sitting at -110.76.

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 $0 million, or 7.40% of GMBL stock, in the hands of institutional investors. The top three institutional holders of GMBL stocks are: SABBY MANAGEMENT, LLC with ownership of 1,154,302, which is approximately 982.429% of the company’s market cap and around 6.25% of the total institutional ownership; WALLEYE CAPITAL LLC, holding 945,503 shares of the stock with an approximate value of $83000.0 in GMBL stocks shares; and GSA CAPITAL PARTNERS LLP, currently with $74000.0 in GMBL stock with ownership of nearly New of the company’s market capitalization.

Positions in Esports Entertainment Group Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 18 institutional holders increased their position in Esports Entertainment Group Inc. [NASDAQ:GMBL] by around 3,671,926 shares. Additionally, 19 investors decreased positions by around 1,301,246 shares, while 15 investors held positions by with 278,816 shares. The mentioned changes placed institutional holdings at 5,251,988 shares, according to the latest SEC report filing. GMBL stock had 8 new institutional investments in for a total of 2,424,300 shares, while 8 institutional investors sold positions of 197,694 shares during the same period.


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