NewGen Asset Management Ltd. recently announced the acquisition of new stake in EBET Inc. (NASDAQ:EBET). This fresh investment now brings its stake to 0.30% valued currently at $41192.0. In addition, CIBC World Markets, Inc. raised its holdings by 0.58 million to 0.58 million shares. And MGO One Seven LLC has lifted its position by 0.13% or 336.0 shares – to 0.26 million shares.
With over 190.64 million EBET Inc. (EBET) shares trading Friday and a closing price of $0.05 on the day, the dollar volume was approximately $9.53 million. The shares have shown a negative half year performance of -86.21% and its price on 09/15/23 gained nearly 31.33%. Currently, there are 448.05M common shares owned by the public and among those 447.26M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for EBET have a consensus price objective of $3.00. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $3.00. But an upside of 98.33% will see the stock hit the forecast high price target while median target price for the stock is $3.00.
Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 107,511 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in EBET Inc. are TIFF Multi Asset Fund, Fidelity Extended Market Index Fu, and Vanguard Extended Market Index Fu. TIFF Multi Asset Fund owns 0.17 million shares of the company’s stock, all valued at over $7945.0. The company bought an additional 0.17 million shares recently to bring their total holdings to about 0.06% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 0.01% of the shares outstanding.
The company’s stock has a 5-day price change of 31.01% and -72.19% over the past three months. EBET shares are trading -91.35% year to date (YTD), with the 12-month market performance down to -97.09% lower. It has a 12-month low price of $0.03 and touched a high of $2.66 over the same period. EBET has an average intraday trading volume of 94.11 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.94%, -19.02%, and -84.24% respectively.
Institutional ownership of EBET Inc. (NASDAQ: EBET) shares accounts for 7.10% of the company’s 448.05M shares outstanding. Mutual fund holders own 0.27%, while other institutional holders and individual stakeholders account for 1.05% and 0.09% respectively.
It has a market capitalization of $18.77M and a beta (3y monthly) value of 1.19. The earnings-per-share (ttm) stands at -$3.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.07% over the week and 22.23% over the month.
Analysts forecast that EBET Inc. (EBET) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate EBET Inc. (EBET) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the EBET, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on February 07, 2022, with the firm’s price target at $18.