Gaming Enthusiast (NASDAQ:EGLX – Get A Rating) saw its price target lowered by HC Wainwright stock research analysts from $8.00 to $6.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. The company currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 206.12% from the current stock price.
Several other equity research analysts have also recently weighed in on EGLX. B. Riley lowered his price target on Enthusiast Gaming from CA$11.50 to CA$7.25 in a Tuesday, July 19 report. Royal Bank of Canada raised its target price on Enthusiast Gaming from CA$7.00 to CA$8.00 in a Tuesday, May 17 report.
Price performance for gaming enthusiasts
Shares of NASDAQ EGLX opened at $1.96 on Tuesday. The company has a market capitalization of $294.49 million, a P/E ratio of -6.32 and a beta of -0.32. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt ratio of 0.04. The stock’s 50-day simple moving average is $1.96 and its two-hundred-day simple moving average is $2.28. Enthusiast Gaming has a twelve month minimum of $1.55 and a twelve month maximum of $5.07.
Enthusiast Gaming (NASDAQ:EGLX – Get Rating) last reported quarterly earnings data on Monday, May 16. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.07. The company posted revenue of $37.24 million for the quarter, versus analyst estimates of $44.53 million. Enthusiast Gaming had a negative return on equity of 19.98% and a negative net margin of 26.65%. As a group, equity analysts expect Enthusiast Gaming to post -0.26 EPS for the current fiscal year.
Hedge funds weigh on gaming enthusiasts
Several institutional investors and hedge funds have been buying and selling stocks recently. Virtu Financial LLC bought a new position in Enthusiast Gaming during the second quarter worth $36,000. Credit Suisse AG increased its position in Enthusiast Gaming shares by 182.3% in the second quarter. Credit Suisse AG now owns 511,496 shares of the company valued at $1,304,000 after acquiring an additional 330,310 shares last quarter. Bank of Montreal Can increased its position in shares of Enthusiast Gaming by 22.8% in the second quarter. Bank of Montreal Can now owns 498,099 shares of the company valued at $1,087,000 after acquiring an additional 92,585 shares last quarter. The Swiss National Bank increased its holdings of Enthusiast Gaming shares by 15.4% in the second quarter. The Swiss National Bank now owns 258,900 shares of the company worth $512,000 after buying 34,500 more shares in the last quarter. Finally, Powell Investment Advisors LLC bought a new position in Enthusiast Gaming stock during the second quarter worth approximately $32,000. 19.05% of the shares are currently held by hedge funds and other institutional investors.
About Gaming Enthusiasts
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Enthusiast Gaming Holdings Inc engages in media, content, entertainment and esports businesses in 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 game exhibition; provides management and support services to players involved in professional gaming; owns and manages esports teams for various games including Call of Duty, Madden NFL, Fortnite, Overwatch, Super Smash Bros., Rocket League and Valorant; and produces and schedules around 30 shows weekly on AVOD and OTT channels, and represents around 500 gaming influencers on YouTube and Twitch.
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