Esports Entertainment Group, Inc. (NASDAQ:GMBL) Short Interest Update

Esports Entertainment Group, Inc. (NASDAQ:GMBL) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 1,140,000 shares, a growth of 37.1% from the March 31st total of 831,700 shares. Approximately 9.5% of the company’s stock are short sold. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is currently 0.6 days.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dorsey Wright & Associates bought a new position in shares of Esports Entertainment Group in the first quarter worth $31,000. BlackRock Inc. grew its position in Esports Entertainment Group by 71.0% in the fourth quarter. BlackRock Inc. now owns 19,216 shares of the company’s stock valued at $122,000 after acquiring an additional 7,981 shares during the last quarter. GWM Advisors LLC bought a new position in Esports Entertainment Group in the first quarter valued at about $150,000. Virtu Financial LLC bought a new position in Esports Entertainment Group in the fourth quarter valued at about $65,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Esports Entertainment Group during the fourth quarter worth about $111,000. Institutional investors own 1.00% of the company’s stock.

Shares of Esports Entertainment Group stock opened at $12.15 on Tuesday. The business has a fifty day simple moving average of $14.17 and a two-hundred day simple moving average of $9.99. Esports Entertainment Group has a 1 year low of $3.55 and a 1 year high of $24.48. The company has a market capitalization of $210.57 million, a price-to-earnings ratio of -17.87 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.27 and a quick ratio of 1.27.

Esports Entertainment Group (NASDAQ:GMBL) last announced its quarterly earnings results on Tuesday, February 16th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.24). The business had revenue of $2.36 million during the quarter, compared to analyst estimates of $2.30 million. As a group, equities analysts anticipate that Esports Entertainment Group will post -0.59 earnings per share for the current fiscal year.

GMBL has been the subject of several recent analyst reports. HC Wainwright initiated coverage on Esports Entertainment Group in a report on Monday. They issued a “buy” rating and a $20.00 price objective for the company. Benchmark initiated coverage on Esports Entertainment Group in a report on Monday, March 29th. They issued a “buy” rating and a $20.00 price objective for the company. UBS Group increased their price objective on Esports Entertainment Group from $11.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, February 17th. Finally, Maxim Group initiated coverage on Esports Entertainment Group in a report on Wednesday, March 31st. They issued a “buy” rating and a $30.00 price objective for the company.

About Esports Entertainment Group

Esports Entertainment Group, Inc operates as an online gambling company in Canada. The company offers esports entertainment, esports wagering, and iGaming and traditional sports betting services, as well as professional and amateur esports events. It also operates vie.gg, an online esports wagering website.

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