Esports Entertainment Group (NASDAQ:GMBL) Upgraded to Buy at Zacks Investment Research

Esports Entertainment Group (NASDAQ:GMBLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $0.75 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 35.23% from the stock’s previous close.

According to Zacks, “Esports Entertainment Group Inc. is a licensed online gambling company. It focuses on esports wagering and 18 gaming. Esports Entertainment Group Inc. is based in BIRKIRKARA, Malta. “

Several other research analysts also recently commented on GMBL. Benchmark reduced their price objective on Esports Entertainment Group from $20.00 to $4.00 and set a “speculative buy” rating on the stock in a report on Wednesday, February 23rd. Roth Capital downgraded Esports Entertainment Group from a “buy” rating to a “neutral” rating in a research note on Thursday, February 24th. Finally, HC Wainwright dropped their target price on Esports Entertainment Group from $14.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $8.95.

Shares of NASDAQ:GMBL traded down $0.03 during trading on Tuesday, hitting $0.55. The company had a trading volume of 811,582 shares, compared to its average volume of 1,360,195. The stock has a market cap of $14.24 million, a price-to-earnings ratio of -0.23 and a beta of 0.93. Esports Entertainment Group has a one year low of $0.55 and a one year high of $14.39. The company has a fifty day simple moving average of $0.96 and a two-hundred day simple moving average of $3.30.

Hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its holdings in Esports Entertainment Group by 54.5% in the third quarter. UBS Group AG now owns 5,369 shares of the company’s stock valued at $36,000 after acquiring an additional 1,895 shares during the last quarter. HighTower Advisors LLC acquired a new position in Esports Entertainment Group in the fourth quarter valued at approximately $40,000. Raymond James Financial Services Advisors Inc. acquired a new position in Esports Entertainment Group during the fourth quarter worth $54,000. PEAK6 Investments LLC acquired a new position in Esports Entertainment Group during the fourth quarter worth $74,000. Finally, Millennium Management LLC acquired a new position in Esports Entertainment Group during the third quarter worth $75,000. Institutional investors and hedge funds own 12.72% of the company’s stock.

Esports Entertainment Group Company Profile (Get Rating)

Esports Entertainment Group, Inc operates as an iGaming and entertainment company in the United States and internationally. The company operates Vie.bet, an esports focused platform; Sportnation.bet, an online sportsbook and casino; iDefix, a casino-platform; Bethard, an online sportsbook and casino; Vie.gg, an online esports wagering website; and ggCircuit, a local area network center management software for managing mission critical functions, such as game licensing and payments.

Further Reading

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