Enthusiast Gaming (CVE:EGLX) Trading 2.6% Higher

Enthusiast Gaming Holdings Inc (CVE:EGLX)’s stock price was up 2.6% on Wednesday . The company traded as high as C$1.99 and last traded at C$1.99. Approximately 145,725 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 154,926 shares. The stock had previously closed at C$1.94.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EGLX shares. Scotiabank lowered Enthusiast Gaming from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$1.50 to C$0.50 in a research report on Wednesday, January 31st. Royal Bank of Canada decreased their price objective on Enthusiast Gaming from C$2.00 to C$1.50 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Finally, Canaccord Genuity Group lowered Enthusiast Gaming from a “speculative buy” rating to a “hold” rating in a research report on Tuesday, January 9th.

Enthusiast Gaming Price Performance

The stock has a market capitalization of C$101.11 million and a price-to-earnings ratio of -15.43. The company has a current ratio of 1.24, a quick ratio of 1.11 and a debt-to-equity ratio of 6.49. The stock has a 50-day simple moving average of C$1.99 and a 200 day simple moving average of C$1.99.

Enthusiast Gaming Company Profile

Enthusiast Gaming Holdings Inc, a digital media company, develops and operates an online community of video gamers worldwide. As of February 6, 2019, the company had a platform of approximately 80 owned and affiliated Websites. It also owns and operates Enthusiast Gaming Live Expo, a gaming expo. The company was founded in 2014 and is based in Toronto, Canada.