Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX – Get Rating) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,740,000 shares, a decline of 15.1% from the October 31st total of 2,050,000 shares. Based on an average daily trading volume, of 308,200 shares, the short-interest ratio is currently 5.6 days. Approximately 1.4% of the company's shares are short sold.
Analyst Upgrades and Downgrades
EGLX has been the subject of several research analyst reports. Scotiabank dropped their price target on shares of Enthusiast Gaming from C$5.00 to C$3.75 in a research report on Wednesday, November 16th. HC Wainwright dropped their price target on shares of Enthusiast Gaming from $6.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, September 22nd. Finally, Royal Bank of Canada dropped their price target on shares of Enthusiast Gaming from C$4.00 to C$3.50 in a research report on Tuesday, November 15th.
Get Enthusiast Gaming alerts:Enthusiast Gaming Trading Up 19.4 %
EGLX traded up $0.14 during trading on Friday, hitting $0.86. 731,450 shares of the company's stock were exchanged, compared to its average volume of 276,040. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.07. Enthusiast Gaming has a 1 year low of $0.53 and a 1 year high of $3.77. The stock has a 50 day moving average price of $0.70 and a 200 day moving average price of $1.42. The firm has a market cap of $130.32 million, a P/E ratio of -2.05 and a beta of 0.11.
Enthusiast Gaming (NASDAQ:EGLX – Get Rating) last released its quarterly earnings data on Monday, November 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Enthusiast Gaming had a negative return on equity of 20.15% and a negative net margin of 37.57%. The business had revenue of $38.78 million for the quarter, compared to analysts' expectations of $42.07 million. As a group, analysts expect that Enthusiast Gaming will post -0.19 EPS for the current fiscal year.Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. purchased a new position in shares of Enthusiast Gaming in the second quarter valued at $30,000. Powell Investment Advisors LLC bought a new position in Enthusiast Gaming during the 2nd quarter valued at $32,000. Raymond James & Associates bought a new position in Enthusiast Gaming during the 3rd quarter valued at $33,000. Virtu Financial LLC bought a new position in Enthusiast Gaming during the 2nd quarter valued at $36,000. Finally, Legacy Advisors LLC bought a new position in Enthusiast Gaming during the 2nd quarter valued at $38,000. 12.73% of the stock is currently owned by hedge funds and other institutional investors.
Enthusiast Gaming Company Profile
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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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