GameSquare (NASDAQ:GAME) Trading Down 3.7% - Here's What Happened

Key Points

• The stock price of GameSquare Holdings (NASDAQ:GAME) has fallen by 3.7%, trading at around $0.76, with a significant drop in trading volume compared to average sessions.
• Despite the stock's recent decline, analysts have a consensus rating of "Buy" with a price target of $3.00, following an upgrade to a "hold" rating by Wall Street Zen.
• GameSquare reported a negative earnings per share of ($0.11) for the last quarter, missing estimates, with revenue of $15.85 million compared to projected figures of $22.00 million.

Shares of GameSquare Holdings, Inc. (NASDAQ:GAME - Get Free Report) fell 3.7% on Friday . The company traded as low as $0.75 and last traded at $0.76. 2,057,241 shares were traded during mid-day 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 Analyst Weigh In

Separately, Wall Street Zen raised GameSquare from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, GameSquare presently has a consensus rating of "Buy" and a consensus price target of $3.00.

GameSquare Price Performance

The company has a fifty day simple moving average of $1.07 and a two-hundred day simple moving average of $0.86. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $71.18 million, a price-to-earnings ratio of -0.59 and a beta of 0.75.

GameSquare (NASDAQ:GAME - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $15.85 million during the quarter, compared to the consensus estimate of $22.00 million. GameSquare had a negative net margin of 46.12% and a negative return on equity of 275.13%.

Institutional Investors Weigh In On GameSquare

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in GameSquare during the 2nd quarter worth $38,000. United Capital Management of KS Inc. grew its position in shares of GameSquare by 57.1% in the 1st quarter. United Capital Management of KS Inc. now owns 55,000 shares of the entertainment company's stock valued at $33,000 after buying an additional 20,000 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of GameSquare in the 2nd quarter valued at about $108,000. Finally, Geode Capital Management LLC grew its position in shares of GameSquare by 23.9% in the 2nd quarter. Geode Capital Management LLC now owns 213,914 shares of the entertainment company's stock valued at $186,000 after buying an additional 41,196 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

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.