Major Brokerage Firms Issue Research Notes on Esports Entertainment Group Inc. (GMBL)

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Esports Entertainment Group Inc. (NASDAQ:GMBL) saw an upside of 3.70% to close Monday at $0.08 after subtracting $0.0 on the day. The 5-day average trading volume is 14,987,040 shares of the company’s common stock. It has gained $0.0918 in the past week and touched a new high 3 times within the past 5 days. An average of 10,564,330 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,931,180.

GMBL’s 1-month performance is -10.35% or -$0.0108 on its low of $0.0667 reached on 01/19/23. The company’s shares have touched a 52-week low of $0.07 and high of $3.70, with the stock’s rally to the 52-week high happening on 01/11/23. YTD, GMBL has achieved 9.66% or $0.0074 and has reached a new high 3 times. However, the current price is down -97.73% from the 52-week high price.

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Valuation Metrics

GMBL stock has a beta of 1.33. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.11.

Esports Entertainment Group Inc.’s quick ratio for the period ended September 29 was 0.20, with the current ratio over the same period at 0.20. In terms of profitability, the gross margin trailing 12 months is 58.40%. The firm’s gross profit as reported stood at $34.19 million against revenue of $58.35 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 87.61% to $4.44 million, while revenue of $4.05 million was 8.78% off the previous quarter. Analysts expected GMBL to announce -$0.18 per share in earnings in its latest quarter, but it posted -$0.1, representing a 44.40% surprise. EBITDA for the quarter stood at more than -$4.18 million. GMBL stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 76.01 million, with total debt at $42.4 million. Shareholders hold equity totaling $70.92 million.

Let’s look briefly at Esports Entertainment Group Inc. (GMBL) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 54.13% to suggest the stock is trending Neutral, with historical volatility in this time period at 109.92%.

The stock’s 5-day moving average is $0.0762, reflecting a +4.61% or $0.0037 change from its current price. GMBL is currently trading -5.62% above its 20-day SMA, -81.37% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -25.53% and SMA200 by-89.59%.

Stochastic %K and %D was 46.77% and 29.29% and the average true range (ATR) pointed at 0.0106. The RSI (14) points at 48.40%, while the 14-day stochastic is at 65.78% with the period’s ATR at 0.0111. The stock’s 9-day MACD Oscillator is pointing at 0.0002 and 0.0015 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Esports Entertainment Group Inc. (NASDAQ: GMBL), ROTH Capital launched coverage with a Buy rating.

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