GameSquare (NASDAQ:GAME) Stock Price Down 3.7% - Here's Why

Key Points

• GameSquare Holdings' stock price fell by 3.7% to $0.76 during mid-day trading, with significant trading volume that was 64% lower than its average.
• Wall Street analysts have recently upgraded GameSquare's rating from "sell" to "hold", with an average target price set at $3.00.
• In its latest earnings report, GameSquare missed analysts' expectations, reporting earnings per share of ($0.11) against a consensus of ($0.10) and revenues of $15.85 million compared to an estimated $22 million.

GameSquare Holdings, Inc. (NASDAQ:GAME - Get Free Report)'s stock price traded down 3.7% on Friday . The stock traded as low as $0.75 and last traded at $0.76. 2,057,241 shares traded hands during trading, a decline of 64% from the average session volume of 5,725,079 shares. The stock had previously closed at $0.78.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of GameSquare from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $3.00.

GameSquare Stock Down 2.6%

The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $72.76 million, a price-to-earnings ratio of -0.61 and a beta of 0.75. The firm's 50 day simple moving average is $1.07 and its 200-day simple moving average is $0.86.

GameSquare (NASDAQ:GAME - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The entertainment company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $15.85 million during the quarter, compared to analyst estimates of $22.00 million. GameSquare had a negative net margin of 46.12% and a negative return on equity of 275.13%.

Hedge Funds Weigh In On GameSquare

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of GameSquare by 23.9% during the 2nd quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company's stock worth $186,000 after purchasing an additional 41,196 shares during the period. XTX Topco Ltd acquired a new position in shares of GameSquare during the 2nd quarter worth $38,000. United Capital Management of KS Inc. grew its stake in shares of GameSquare by 70.4% during the 2nd quarter. United Capital Management of KS Inc. now owns 93,696 shares of the entertainment company's stock worth $77,000 after purchasing an additional 38,696 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of GameSquare during the 2nd quarter worth $108,000. 64.25% of the stock is owned by institutional investors and hedge funds.

GameSquare Company Profile

GameSquare Holdings, Inc operates as a vertically integrated digital media, entertainment, and technology company. Its platform to connect with gaming and youth culture audiences. The company's end-to-end platform includes Code Red Esports Ltd., an esports talent agency; GCN, a digital media company focusing on the gaming and esports audience; Zoned, a gaming and lifestyle marketing agency; Complexity Gaming, a esports organization operating; Fourth Frame Studios, a creative production studio; and Mission Supply, a merchandise and consumer products business; Frankly Media, programmatic advertising, Stream Hatchet, live streaming analytics, and Sideqik a social influencer marketing platform.