Esports Entertainment Group, Inc. (NASDAQ:GMBL) Sees Significant Growth in Short Interest

Esports Entertainment Group, Inc. (NASDAQ:GMBLGet Rating) saw a significant increase in short interest in the month of December. As of December 30th, there was short interest totalling 5,660,000 shares, an increase of 28.6% from the December 15th total of 4,400,000 shares. Based on an average daily trading volume, of 4,280,000 shares, the days-to-cover ratio is currently 1.3 days.

Analysts Set New Price Targets

GMBL has been the subject of several research analyst reports. Maxim Group downgraded shares of Esports Entertainment Group from a “buy” rating to a “hold” rating in a research report on Friday, September 30th. HC Wainwright lowered shares of Esports Entertainment Group from a “buy” rating to a “neutral” rating in a research note on Thursday, October 6th.

Esports Entertainment Group Trading Up 12.5 %

Esports Entertainment Group stock opened at $0.08 on Friday. Esports Entertainment Group has a 12-month low of $0.07 and a 12-month high of $3.70. The firm has a 50 day simple moving average of $0.10 and a 200-day simple moving average of $0.23.

Esports Entertainment Group (NASDAQ:GMBLGet Rating) last issued its quarterly earnings results on Monday, November 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.05. The company had revenue of $9.61 million for the quarter, compared to analysts’ expectations of $11.25 million. Esports Entertainment Group had a negative return on equity of 2,169.41% and a negative net margin of 338.81%. As a group, equities analysts predict that Esports Entertainment Group will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Esports Entertainment Group

Several large investors have recently made changes to their positions in GMBL. Engineers Gate Manager LP increased its holdings in shares of Esports Entertainment Group by 87.0% in the first quarter. Engineers Gate Manager LP now owns 64,184 shares of the company’s stock valued at $46,000 after buying an additional 29,864 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Esports Entertainment Group by 180.8% in the 1st quarter. Bank of New York Mellon Corp now owns 56,276 shares of the company’s stock valued at $41,000 after purchasing an additional 36,236 shares during the period. UBS Group AG acquired a new stake in Esports Entertainment Group during the 1st quarter worth about $27,000. Vanguard Group Inc. lifted its stake in Esports Entertainment Group by 29.0% during the first quarter. Vanguard Group Inc. now owns 303,916 shares of the company’s stock valued at $220,000 after buying an additional 68,351 shares in the last quarter. Finally, Warberg Asset Management LLC acquired a new position in shares of Esports Entertainment Group in the third quarter worth about $46,000. Institutional investors own 7.41% of the company’s stock.

Esports Entertainment Group Company Profile

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Esports Entertainment Group, Inc operates as an online gambling platform. It offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience. It operates through the following geographical segments: Antigua, Malta, Curacao and United States.

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