Enthusiast Gaming (TSE:EGLX) Trading 30% Higher – Here’s Why

Enthusiast Gaming Holdings Inc. (TSE:EGLX)’s share price shot up 30% during mid-day trading on Thursday . The stock traded as high as C$0.07 and last traded at C$0.07. 273,079 shares were traded during mid-day trading, an increase of 198% from the average session volume of 91,612 shares. The stock had previously closed at C$0.05.

Enthusiast Gaming Price Performance

The business has a 50-day simple moving average of C$0.04 and a two-hundred day simple moving average of C$0.04. The company has a quick ratio of 1.21, a current ratio of 0.13 and a debt-to-equity ratio of 8,938.80. The stock has a market capitalization of C$9.55 million, a price-to-earnings ratio of -0.21 and a beta of 1.15.

Enthusiast Gaming (TSE:EGLX) last issued its quarterly earnings results on Thursday, May 14th. The company reported C($0.01) earnings per share (EPS) for the quarter. Enthusiast Gaming had a negative net margin of 113.80% and a negative return on equity of 982.61%. The firm had revenue of C$9.44 million for the quarter. As a group, research analysts predict that Enthusiast Gaming Holdings Inc. will post -0.15 earnings per share for the current fiscal year.

Enthusiast Gaming Company Profile

Enthusiast Gaming Holdings Inc is a gaming company building the media platform for video games and esports fans to connect and engage worldwide. Reaching over 300 million gamers every month, the company is a member of the Comscore 100 ranking of the top Internet Properties in the U.S and the largest in the Gaming Information category on mobile devices. Combining the elements of its four core pillars; Media, Talent, Esports and Experiential, Enthusiast Gaming provides a engagement opportunity resulting in more points of connection than any other video game and esports platform, with unparalleled access to the influential and lucrative GenZ and Millennial audience.