Enthusiast Gaming (TSE:EGLX) Stock Price Down 10% – Here’s Why

Shares of Enthusiast Gaming Holdings Inc. (TSE:EGLX) dropped 10% on Friday . The company traded as low as C$0.04 and last traded at C$0.04. 139,444 shares traded hands during trading, an increase of 76% from the average session volume of 79,296 shares. The stock had previously closed at C$0.05.

Enthusiast Gaming Stock Performance

The company has a current ratio of 0.13, a quick ratio of 1.21 and a debt-to-equity ratio of 8,938.80. The business’s 50 day moving average is C$0.06 and its 200 day moving average is C$0.05. The stock has a market capitalization of C$7.16 million, a PE ratio of -0.18 and a beta of 1.44.

Enthusiast Gaming (TSE:EGLX) last posted its quarterly earnings data on Thursday, May 14th. The company reported C($0.01) earnings per share for the quarter. Enthusiast Gaming had a negative return on equity of 982.61% and a negative net margin of 113.80%.The firm had revenue of C$9.44 million during the quarter. On average, equities 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 builds tools, platforms, and experiences that make every moment of play more meaningful. Its portfolio of owned and operated digital properties includes some of the most recognizable names in gaming, such as U.GG, Icy-Veins, TheSimsResource, PocketGamer, Addicting Games, and Fantasy Football Scout, as well as the global B2B event series PocketGamer Connects. Through these assets, Enthusiast Gaming generates revenue from programmatic advertising, subscriptions, and events, and is focused on expanding its owned IP and deepening direct engagement with its audience.