Esports Entertainment Group (NASDAQ:GMBL) Stock Price Down 7.7%

Shares of Esports Entertainment Group, Inc. (NASDAQ:GMBL) traded down 7.7% during mid-day trading on Wednesday . The company traded as low as $0.72 and last traded at $0.72. 4,174 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 251,281 shares. The stock had previously closed at $0.78.

Esports Entertainment Group Price Performance

The business’s 50-day simple moving average is $1.10 and its 200-day simple moving average is $9.15.

Esports Entertainment Group (NASDAQ:GMBL) last released its earnings results on Wednesday, March 27th. The company reported ($64.55) earnings per share (EPS) for the quarter. The business had revenue of $2.58 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG bought a new position in shares of Esports Entertainment Group during the 1st quarter valued at $27,000. Bank of New York Mellon Corp raised its holdings in shares of Esports Entertainment Group by 180.8% during the 1st quarter. Bank of New York Mellon Corp now owns 56,276 shares of the company’s stock valued at $41,000 after purchasing an additional 36,236 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of Esports Entertainment Group by 87.0% during the 1st quarter. Engineers Gate Manager LP now owns 64,184 shares of the company’s stock valued at $46,000 after purchasing an additional 29,864 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Esports Entertainment Group by 29.0% during the 1st quarter. Vanguard Group Inc. now owns 303,916 shares of the company’s stock valued at $220,000 after purchasing an additional 68,351 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Esports Entertainment Group by 458.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,205,260 shares of the company’s stock valued at $871,000 after purchasing an additional 989,507 shares in the last quarter. Institutional investors own 51.37% of the company’s stock.

About Esports Entertainment Group

Esports Entertainment Group, Inc operates as an iGaming and entertainment company in the United States and internationally. It operates through two segments, EEG iGaming and EEG Games. The EEG iGaming segment operates iDefix, a casino platform. The EEG Games segment operates ggCircuit, a local area network center management software and services for managing mission critical functions, such as game licensing and payments; and creates esports content for distribution to the betting industry.