Enthusiast Gaming (NASDAQ:EGLX – Get Rating) had its price objective trimmed by HC Wainwright from $6.00 to $4.00 in a report published on Thursday morning, The Fly reports. The firm currently has a buy rating on the stock.

Separately, B. Riley reduced their target price on Enthusiast Gaming from C$11.50 to C$7.25 in a research note on Tuesday, July 19th.

Enthusiast Gaming Stock Performance

EGLX opened at $0.98 on Thursday. The stock has a market cap of $147.39 million, a P/E ratio of -3.16 and a beta of -0.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.00 and a quick ratio of 1.00. The stock's 50 day simple moving average is $1.54 and its 200 day simple moving average is $2.00. Enthusiast Gaming has a 1-year low of $0.96 and a 1-year high of $4.74.

Institutional Investors Weigh In On Enthusiast Gaming

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. lifted its stake in Enthusiast Gaming by 48.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 20,780 shares of the company's stock valued at $61,000 after buying an additional 6,800 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Enthusiast Gaming by 30.7% during the 1st quarter. National Bank of Canada FI now owns 34,050 shares of the company's stock worth $77,000 after purchasing an additional 8,000 shares during the period. Platform Technology Partners purchased a new position in shares of Enthusiast Gaming during the 1st quarter worth $28,000. Mackenzie Financial Corp lifted its stake in shares of Enthusiast Gaming by 52.7% during the 1st quarter. Mackenzie Financial Corp now owns 40,634 shares of the company's stock worth $98,000 after purchasing an additional 14,021 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Enthusiast Gaming by 3.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 431,906 shares of the company's stock worth $1,045,000 after purchasing an additional 14,831 shares during the period. Hedge funds and other institutional investors own 12.73% of the company's stock.

About Enthusiast Gaming

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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; owns and manages esports teams for various games comprising Call of Duty, Madden NFL, Fortnite, Overwatch, Super Smash Bros., Rocket League, and Valorant; and produces and programs approximately 30 weekly shows across AVOD and OTT channels, and represents approximately 500 gaming influencers on YouTube and Twitch.

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