GameSquare (NASDAQ:GAME) Stock Price Down 3.7% – Here’s Why

GameSquare Holdings, Inc. (NASDAQ:GAME) shares fell 3.7% on Friday . The company traded as low as $0.75 and last traded at $0.76. 2,057,241 shares changed hands 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 upgraded shares of GameSquare from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $3.00.

GameSquare Stock Down 3.7%

The firm’s fifty day moving average price is $1.07 and its 200-day moving average price is $0.86. The company has a market capitalization of $74.74 million, a price-to-earnings ratio of -0.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.43 and a quick ratio of 0.43.

GameSquare (NASDAQ:GAME) last announced 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 company had revenue of $15.85 million for the quarter, compared to analyst estimates of $22.00 million. GameSquare had a negative return on equity of 275.13% and a negative net margin of 46.12%.

Institutional Trading of GameSquare

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake 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 acquiring an additional 41,196 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of GameSquare in the 2nd quarter valued at $108,000. United Capital Management of KS Inc. increased its stake in shares of GameSquare by 70.4% in the 2nd quarter. United Capital Management of KS Inc. now owns 93,696 shares of the entertainment company’s stock valued at $77,000 after acquiring an additional 38,696 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of GameSquare in the 2nd quarter valued at $38,000. Institutional investors own 64.25% of the company’s stock.

About GameSquare

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.