Esports Entertainment Group Inc. [GMBL] is -7.31% lower this YTD. Is it still time to buy?

Esports Entertainment Group Inc. [NASDAQ: GMBL] loss -11.58% or -0.01 points to close at $0.07 with a heavy trading volume of 8751875 shares. The company report on January 5, 2023 that Esports Entertainment Group, Inc. Announces Preferred Stock Dividend.

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St. Julians, Malta–(Newsfile Corp. – January 5, 2023) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLP) (NASDAQ: GMBLW) (NASDAQ: GMBLZ) (or “EEG”) announced today that its Board of Directors has declared a monthly cash dividend for its 10.0% Series A Cumulative Redeemable Convertible Preferred Stock (“Stock A Preferred Stock”) for January 2023.

It opened the trading session at $0.0736, the shares rose to $0.075 and dropped to $0.071, the range by which the price of stock traded the whole day. The daily chart for GMBL points out that the company has recorded -82.68% loss over the past six months. However, it is still 0.0% lower than its most recent low trading price.

If we look at the average trading volume of 4.81M shares, GMBL reached to a volume of 8751875 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]:

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 0.11.

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 -6.58. With this latest performance, GMBL shares dropped by -29.21% in over the last four-week period, additionally sinking by -82.68% 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 37.10, with the RSI for the last a single of trading hit 35.21, and the three-weeks RSI is set at 38.04 for Esports Entertainment Group Inc. [GMBL]. The present Moving Average for the last 50 days of trading for this stock 0.1011, while it was recorded at 0.0798 for the last single week of trading, and 0.3299 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 -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.

An analysis of insider ownership at 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 6.24% of the total institutional ownership; WALLEYE CAPITAL LLC, holding 945,503 shares of the stock with an approximate value of $67000.0 in GMBL stocks shares; and GSA CAPITAL PARTNERS LLP, currently with $60000.0 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 February and at the time of the February 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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