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

Esports Entertainment Group, Inc. (NASDAQ:GMBL – Get Rating) was the target of a large increase in short interest during 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 volume of 4,280,000 shares, the short-interest ratio is presently 1.3 days.

Esports Entertainment Group Stock Up 12.5 %

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

Esports Entertainment Group (NASDAQ:GMBL – Get Rating) last posted its quarterly earnings results on Monday, November 14th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.05. The firm had revenue of $9.61 million during the quarter, compared to analyst estimates 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%. Research analysts predict that Esports Entertainment Group will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in shares of Esports Entertainment Group by 458.6% in the first quarter. Renaissance Technologies LLC now owns 1,205,260 shares of the company’s stock worth $871,000 after purchasing an additional 989,507 shares during the last quarter. Warberg Asset Management LLC purchased a new stake in Esports Entertainment Group in the third quarter worth $46,000. Vanguard Group Inc. lifted its stake in Esports Entertainment Group by 29.0% in the first quarter. Vanguard Group Inc. now owns 303,916 shares of the company’s stock worth $220,000 after acquiring an additional 68,351 shares during the period. UBS Group AG purchased a new position in Esports Entertainment Group during the first quarter valued at $27,000. Finally, Bank of New York Mellon Corp lifted its position in Esports Entertainment Group by 180.8% during the first quarter. Bank of New York Mellon Corp now owns 56,276 shares of the company’s stock valued at $41,000 after buying an additional 36,236 shares during the period. 7.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on GMBL. Maxim Group downgraded shares of Esports Entertainment Group from a “buy” rating to a “hold” rating in a research note on Friday, September 30th. HC Wainwright downgraded shares of Esports Entertainment Group from a “buy” rating to a “neutral” rating in a research note on Thursday, October 6th.

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.