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Enthusiast Gaming Holdings Inc. (EGLX) – Don’t Be So Quick to Call it Dead

Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX) is -79.18% lower on its value in year-to-date trading and has touched a low of $0.53 and a high of $4.38 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The EGLX stock was last observed hovering at around $0.55 in the last trading session, with the day’s gains setting it 0.06% off its average median price target of $4.00 for the next 12 months. It is also 86.44% off the consensus price target high of $4.50 offered by 7 analysts, but current levels are 82.57% higher than the price target low of $3.50 for the same period.

Currently trading at $0.61, the stock is -2.08% and -20.62% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.24 million and changing 11.31% at the moment leaves the stock -66.25% off its SMA200. EGLX registered -84.92% loss for a year compared to 6-month loss of -70.71%.

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The stock witnessed a -10.56% gain in the last 1 month and extending the period to 3 months gives it a -59.19%, and is -3.51% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.12% over the week and 10.31% over the month.

Enthusiast Gaming Holdings Inc. (EGLX) has around 200 employees, a market worth around $128.87M and $205.80M in sales. Profit margin for the company is -38.10%. Distance from 52-week low is 14.82% and -86.02% from its 52-week high. The company has generated returns on investments over the last 12 months (-17.60%).

Enthusiast Gaming Holdings Inc. (EGLX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Enthusiast Gaming Holdings Inc. (EGLX) is a “Buy”. 7 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Enthusiast Gaming Holdings Inc. is expected to release its quarterly report on 03/22/2023.The EPS is expected to shrink by -33.60% this year

Enthusiast Gaming Holdings Inc. (EGLX) Top Institutional Holders

The shares outstanding are 150.26M, and float is at 129.21M with Short Float at 1.58%.

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