Enthusiast Gaming (NASDAQ:EGLX) Given New $8.00 Price Target at HC Wainwright

Enthusiast Gaming (NASDAQ:EGLX) had its target price increased by HC Wainwright from $7.00 to $8.00 in a research report released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently commented on the stock. Royal Bank of Canada assumed coverage on shares of Enthusiast Gaming in a research note on Friday, October 1st. They set an outperform rating and a $9.00 price target on the stock. Canaccord Genuity decreased their price target on shares of Enthusiast Gaming from C$11.00 to C$9.00 and set a buy rating on the stock in a research note on Thursday, November 11th. Scotiabank assumed coverage on shares of Enthusiast Gaming in a research note on Thursday, July 29th. They set an outperform rating and a $9.25 price target on the stock. Finally, Zacks Investment Research upgraded shares of Enthusiast Gaming from a sell rating to a hold rating in a report on Tuesday, November 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Buy and an average target price of $8.81.

EGLX opened at $4.30 on Wednesday. Enthusiast Gaming has a one year low of $2.16 and a one year high of $8.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s 50 day moving average is $3.66. The company has a market capitalization of $540.61 million and a PE ratio of -13.44.

A number of hedge funds and other institutional investors have recently made changes to their positions in EGLX. Boothbay Fund Management LLC acquired a new stake in Enthusiast Gaming in the second quarter worth $35,026,000. AWM Investment Company Inc. acquired a new stake in Enthusiast Gaming in the second quarter worth $5,326,000. Credit Suisse AG acquired a new stake in Enthusiast Gaming in the second quarter worth $3,670,000. Goldman Sachs Group Inc. raised its holdings in Enthusiast Gaming by 509.9% in the third quarter. Goldman Sachs Group Inc. now owns 702,021 shares of the company’s stock worth $2,548,000 after purchasing an additional 586,908 shares during the period. Finally, Albar Capital Ltd acquired a new stake in Enthusiast Gaming in the second quarter worth $2,970,000. Institutional investors and hedge funds own 18.95% of the company’s stock.

About Enthusiast Gaming

Enthusiast Gaming Holdings Inc engages in the media, content, entertainment, and esports businesses the United States, Canada, and internationally. The company operates an online network of approximately 100 gaming related websites; owns and operates Enthusiast Gaming Live Expo, a video-gaming expo; provides management and support services to players involved in professional gaming; and owns and manages esports teams, which cover games comprising Call of Duty, Madden, Fortnite, Overwatch, Apex, and Valorant; and produces and programs approximately 30 weekly shows across AVOD and OTT channels, and represents approximately 500 gaming influencers across YouTube and Twitch.

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