Brokerages Set Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) PT at $8.81

Shares of Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) have been assigned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.81.

EGLX has been the subject of several research reports. HC Wainwright increased their target price on Enthusiast Gaming from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 24th. Royal Bank of Canada initiated coverage on Enthusiast Gaming in a research report on Friday, October 1st. They issued an “outperform” rating and a $9.00 target price for the company. dropped their target price on Enthusiast Gaming from C$11.00 to C$9.00 and set a “buy” rating for the company in a research report on Thursday, November 11th. Finally, Zacks Investment Research downgraded Enthusiast Gaming from a “hold” rating to a “sell” rating in a research report on Tuesday.

NASDAQ:EGLX traded up $0.01 during trading hours on Friday, hitting $2.55. The company’s stock had a trading volume of 41,974 shares, compared to its average volume of 556,171. The stock has a fifty day simple moving average of $3.31 and a 200-day simple moving average of $4.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.24 and a current ratio of 1.24. Enthusiast Gaming has a twelve month low of $2.42 and a twelve month high of $8.88.

Enthusiast Gaming (NASDAQ:EGLX) last posted its earnings results on Wednesday, November 10th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The firm had revenue of $34.42 million during the quarter, compared to the consensus estimate of $33.10 million. Enthusiast Gaming had a negative net margin of 30.00% and a negative return on equity of 22.74%. On average, analysts anticipate that Enthusiast Gaming will post -0.33 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. UBS Group AG increased its holdings in Enthusiast Gaming by 64.2% in the third quarter. UBS Group AG now owns 8,554 shares of the company’s stock worth $31,000 after purchasing an additional 3,345 shares in the last quarter. Financial Counselors Inc. bought a new stake in Enthusiast Gaming in the third quarter worth approximately $36,000. Shell Asset Management Co. bought a new stake in Enthusiast Gaming in the second quarter worth approximately $46,000. Advisor Group Holdings Inc. increased its holdings in Enthusiast Gaming by 58.1% in the third quarter. Advisor Group Holdings Inc. now owns 13,980 shares of the company’s stock worth $51,000 after purchasing an additional 5,140 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Enthusiast Gaming in the third quarter worth approximately $52,000. Institutional investors own 17.07% of the company’s stock.

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; and owns and manages esports teams, which cover games comprising Call of Duty, Madden, Fortnite, Overwatch, Apex, and Valorant; and produces and programs approximately 30 weekly shows across AVOD and OTT channels, and represents approximately 500 gaming influencers across YouTube and Twitch.

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Analyst Recommendations for Enthusiast Gaming (NASDAQ:EGLX)

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