As of Wednesday close, EBET Inc.’s (NASDAQ:EBET) stock was up $0.02, moving up 24.76 percent to $0.07. The average number of shares traded per day over the past five days has been 255,077,984 shares. 4 times new highs have been achieved over the past 5 days, with a $0.0223 gain in that time frame. In the last twenty days, the average volume was 152,750,156, while in the previous 50 days, it was 140,158,406.
Since last month, EBET stock rose 0.76%. Shares of the company fell to $0.0380 on 08/28/23, the lowest level in the past month. A 52-week high of $2.66 was reached on 02/01/23 after having rallying from a 52-week low of $0.03. Since the beginning of this year, EBET’s stock price has dropped by -89.53% or -$0.5642, and marked a new high 7 times. However, the stock has declined by -97.52% since its 52-week high.
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EBET stock investors should be aware that EBET Inc. (EBET) stock had its last reported insider trading activity 211 days ago on Feb 22. Speach Aaron, the CEO of the company, purchased of 18,611 shares for $0.54 on Feb 22. It resulted in a $10,050 investment by the insider.
Financial Health
In the three months ended June 29, EBET Inc.’s quick ratio stood at 0.10, while its current ratio was 0.10, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 42.40% percent. In the year ended June 29, EBITDA margin amounted to -34.13%, whereas operating margins totaled -96.50%. Based on annual data, EBET earned $22.58 million in gross profit and brought in $58.6 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -60.30%. Return on equity (ROE) for the past 12 months was -581.70%.
In EBET Inc.’s quarter-end financial report for June 29, it reported total debt of $0.55 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. EBET’s revenue fell -127.98% to $11.58 million during the quarter, while net income inched up to $7.97 million. While analysts expected EBET Inc. to report -$0.8 quarterly earnings, the actual figure was -$0.7 per share, beating the consensus estimate by 12.50%. During the quarter, the company generated -$24.37 million in EBITDA. The liabilities of EBET Inc. were 50.28 million at the end of its most recent quarter ended June 29, and its total debt was $39.93 million. The value of shareholders’ equity is $300.18 million.
Technical Picture
This quick technical analysis looks at EBET Inc.’s (EBET) price momentum. With a historical volatility rate of 181.10%, the RSI 9-day stood at 68.47% on 20 September.
With respect to its five-day moving average, the current EBET Inc. price is up by +51.03% percent or $0.0223. At present, EBET shares trade +17.86% above its 20-day simple moving average and -82.17% percent below its 100-day simple moving average. However, the stock is currently trading approximately -47.41% below its SMA50 and -89.78% below its SMA200.
Stochastic coefficient K was 59.15% and Stochastic coefficient D was 53.28%, while ATR was 0.0114. Given the Stochastic reading of 75.41% for the 14-day period, the RSI (14) reading has been calculated as 58.18%.
Analyst Ratings
Needham launched its rating on EBET Inc. (NASDAQ: EBET) to a Buy in a note to investors on February 07, 2022. EBET Inc. (EBET) has been rated Buy by analysts. According to 0 brokerage firms, EBET is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate EBET Inc. stock as buy, with 1 recommending it as overweight.
With a median target price of $3.00, the current consensus forecast for the stock is $3.00 – $3.00. Based on these forecasts, analysts predict EBET Inc. (EBET) will achieve an average price target of $3.00.
