Golden Matrix Group’s (GMGI) Buy Rating Reaffirmed at EF Hutton Acquisition Co. I

Golden Matrix Group (NASDAQ:GMGI – Get Rating)‘s stock had its “buy” rating reaffirmed by analysts at EF Hutton Acquisition Co. I in a research report issued on Friday, Benzinga reports. They currently have a $4.00 price objective on the stock. EF Hutton Acquisition Co. I’s price objective indicates a potential upside of 56.86% from the stock’s previous close.

Golden Matrix Group Stock Down 21.5 %

NASDAQ GMGI opened at $2.55 on Friday. The company has a 50-day moving average of $3.39 and a 200-day moving average of $2.99. Golden Matrix Group has a 12 month low of $1.89 and a 12 month high of $9.00.

Golden Matrix Group (NASDAQ:GMGI – Get Rating) last posted its earnings results on Monday, January 30th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $9.57 million for the quarter.

Institutional Trading of Golden Matrix Group

A number of institutional investors and hedge funds have recently bought and sold shares of GMGI. Northern Trust Corp acquired a new stake in Golden Matrix Group during the 2nd quarter worth approximately $59,000. State Street Corp purchased a new position in Golden Matrix Group in the 2nd quarter worth approximately $51,000. Virtu Financial LLC purchased a new position in Golden Matrix Group in the 3rd quarter worth approximately $37,000. Finally, Citadel Advisors LLC boosted its holdings in Golden Matrix Group by 93.5% in the 3rd quarter. Citadel Advisors LLC now owns 23,786 shares of the company’s stock worth $69,000 after acquiring an additional 11,494 shares during the period. Institutional investors and hedge funds own 2.90% of the company’s stock.

About Golden Matrix Group

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Golden Matrix Group, Inc engages in the provision of turnkey and white label gaming platforms, Esports technology, and gaming content. The firm develops and owns online gaming IP and builds configurable and scalable white-label B2B gaming platforms. It operates through the B2B and B2C segments. The B2B segment is involved in the charges of usage of the company’s software and royalties charged on the use of third-party gaming content.