Does Mobile Global Esports Inc (MGAM) offer a good opportunity for investors?

Mobile Global Esports Inc (NASDAQ: MGAM) stock fell -12.37% on Friday to $0.33 against a previous-day closing price of $0.38. With 39163.0 shares changed hands, the volume of the stock remained lighter than its average volume of 0.17 million shares. During the session, the Electronic Gaming & Multimedia company that operates in wider Communication Services sector, reached to the highest price of $0.3991 whereas the lowest price it dropped to was $0.3300. The 52-week range on MGAM shows that it touched its highest point at $4.68 and its lowest point at $0.28 during that stretch. It currently has a 1-year price target of $1.50. Beta for the stock currently stands at 4.51.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MGAM was down-trending over the past week, with a drop of -5.37%, but this was down by -9.76% over a month. Three-month performance dropped to -34.68% while six-month performance fell -40.53%. The stock lost -61.75% in the past year, while it has lost -59.63% so far this year. A look at the trailing 12-month EPS for MGAM yields -0.14 with Next year EPS estimates of -0.21. For the next quarter, that number is -0.06. This implies an EPS growth rate of -185.71% for this year and -5.00% for next year.

Float and Shares Shorts:

At present, 20.42 million MGAM shares are outstanding with a float of 15.46 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.11 million, which was 0.53% higher than short shares on Sep 28, 2023. In addition to Mr. David Pross as the firm’s Co-Founder, CEO, Corporate Secretary & Director, Ms. Kiki Benson serves as its CFO & Director.

Institutional Ownership:

Through their ownership of 0.63% of MGAM’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.18% of MGAM, in contrast to 0.31% held by mutual funds. Shares owned by individuals account for 0.05%. As the largest shareholder in MGAM with 0.18% of the stake, G1 Execution Services LLC holds 36,372 shares worth 36,372. A second-largest stockholder of MGAM, Virtu Financial BD LLC, holds 21,434 shares, controlling over 0.11% of the firm’s shares. XTX Markets LLC is the third largest shareholder in MGAM, holding 10,096 shares or 0.05% stake. With a 0.05% stake in MGAM, the Fidelity Nasdaq Composite Index F is the largest stakeholder. A total of 9,224 shares are owned by the mutual fund manager. The 1290 VT Micro Cap Portfolio, which owns about 0.00% of MGAM stock, is the second-largest Mutual Fund holder. It holds 0 shares valued at 0.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MGAM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MGAM analysts setting a high price target of $1.50 and a low target of $1.50, the average target price over the next 12 months is $1.50. Based on these targets, MGAM could surge 354.55% to reach the target high and rise by 354.55% to reach the target low. Reaching the average price target will result in a growth of 354.55% from current levels.

Summary of Insider Activity:

Insiders traded MGAM stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 550 while 550 shares were sold.