Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX – Get Rating) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 2,040,000 shares, a growth of 13.3% from the August 15th total of 1,800,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 269,700 shares, the days-to-cover ratio is currently 7.6 days.
Institutional Trading of Enthusiast Gaming
A number of institutional investors and hedge funds have recently made changes to their positions in EGLX. Advisor Group Holdings Inc. increased its holdings in shares of Enthusiast Gaming by 48.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 20,780 shares of the company’s stock worth $61,000 after buying an additional 6,800 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Enthusiast Gaming by 26.6% in the fourth quarter. TD Asset Management Inc. now owns 110,615 shares of the company’s stock valued at $326,000 after purchasing an additional 23,245 shares during the period. Bank of Montreal Can increased its stake in shares of Enthusiast Gaming by 25.5% during the fourth quarter. Bank of Montreal Can now owns 348,478 shares of the company’s stock valued at $1,075,000 after acquiring an additional 70,806 shares during the period. ETF Managers Group LLC increased its stake in shares of Enthusiast Gaming by 31.0% during the fourth quarter. ETF Managers Group LLC now owns 97,713 shares of the company’s stock valued at $299,000 after acquiring an additional 23,100 shares during the period. Finally, Platform Technology Partners bought a new stake in Enthusiast Gaming during the first quarter worth approximately $28,000. 12.73% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on EGLX shares. HC Wainwright decreased their price target on Enthusiast Gaming from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 16th. B. Riley decreased their price target on Enthusiast Gaming from C$11.50 to C$7.25 in a research note on Tuesday, July 19th.
Enthusiast Gaming Price Performance
EGLX traded down $0.02 during trading on Friday, hitting $1.21. The company’s stock had a trading volume of 100,240 shares, compared to its average volume of 398,101. The firm’s 50 day moving average price is $1.60 and its 200-day moving average price is $2.04. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. Enthusiast Gaming has a twelve month low of $1.11 and a twelve month high of $4.74.
Enthusiast Gaming (NASDAQ:EGLX – Get Rating) last issued its quarterly earnings results on Monday, August 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $40.06 million during the quarter, compared to the consensus estimate of $38.82 million. Enthusiast Gaming had a negative return on equity of 19.24% and a negative net margin of 26.78%. As a group, equities research analysts anticipate that Enthusiast Gaming will post -0.25 earnings per share for the current year.
Enthusiast Gaming Company Profile
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.
- Get a free copy of the StockNews.com research report on Enthusiast Gaming (EGLX)
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