Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) to Post Q2 2023 Earnings of ($0.06) Per Share, HC Wainwright Forecasts

Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX – Get Rating) – Equities researchers at HC Wainwright boosted their Q2 2023 earnings estimates for shares of Enthusiast Gaming in a research note issued to investors on Tuesday, May 16th. HC Wainwright analyst S. Buck now anticipates that the company will post earnings per share of ($0.06) for the quarter, up from their previous forecast of ($0.07). HC Wainwright currently has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for Enthusiast Gaming’s current full-year earnings is ($0.15) per share. HC Wainwright also issued estimates for Enthusiast Gaming’s FY2024 earnings at ($0.10) EPS.

Separately, Canaccord Genuity Group reduced their price objective on shares of Enthusiast Gaming from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, March 28th.

Enthusiast Gaming Trading Down 2.3 %

NASDAQ:EGLX opened at $0.50 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $75.58 million, a PE ratio of -1.31 and a beta of 0.78. The firm’s 50 day moving average is $0.54 and its 200 day moving average is $0.62. Enthusiast Gaming has a 12 month low of $0.39 and a 12 month high of $2.62.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Boothbay Fund Management LLC grew its position in Enthusiast Gaming by 15.1% in the first quarter. Boothbay Fund Management LLC now owns 3,319,726 shares of the company’s stock worth $1,974,000 after acquiring an additional 436,700 shares in the last quarter. Credit Suisse AG raised its stake in shares of Enthusiast Gaming by 3.3% during the third quarter. Credit Suisse AG now owns 528,204 shares of the company’s stock valued at $623,000 after acquiring an additional 16,708 shares during the last quarter. Royal Bank of Canada raised its stake in Enthusiast Gaming by 7.2% in the first quarter. Royal Bank of Canada now owns 524,817 shares of the company’s stock worth $1,270,000 after buying an additional 35,068 shares in the last quarter. Bank of Montreal Can raised its stake in Enthusiast Gaming by 16.4% in the first quarter. Bank of Montreal Can now owns 405,514 shares of the company’s stock worth $1,052,000 after buying an additional 57,036 shares in the last quarter. Finally, Swiss National Bank raised its stake in Enthusiast Gaming by 7.1% in the first quarter. Swiss National Bank now owns 224,400 shares of the company’s stock worth $542,000 after buying an additional 14,900 shares in the last quarter. 11.19% of the stock is currently owned by hedge funds and other institutional investors.

Enthusiast Gaming Company Profile

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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.