GameSquare (NASDAQ:GAME) Shares Down 12% – Here’s What Happened

Shares of GameSquare Holdings, Inc. (NASDAQ:GAME) traded down 12% during trading on Friday . The stock traded as low as $0.4406 and last traded at $0.4478. 3,906,019 shares were traded during mid-day trading, an increase of 5% from the average session volume of 3,724,341 shares. The stock had previously closed at $0.5091.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GAME shares. Weiss Ratings reissued a “sell (e+)” rating on shares of GameSquare in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of GameSquare from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

GameSquare Price Performance

The firm has a fifty day moving average of $0.69 and a two-hundred day moving average of $0.84. The stock has a market capitalization of $44.33 million, a P/E ratio of -0.37 and a beta of 0.74. 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 issued its earnings results on Thursday, November 13th. The entertainment company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $11.31 million for the quarter, compared to analysts’ expectations of $26.80 million. GameSquare had a negative net margin of 46.12% and a negative return on equity of 275.13%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. United Capital Management of KS Inc. lifted its position in GameSquare by 57.1% during the first quarter. United Capital Management of KS Inc. now owns 55,000 shares of the entertainment company’s stock valued at $33,000 after acquiring an additional 20,000 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of GameSquare during the second quarter worth $38,000. FNY Investment Advisers LLC purchased a new stake in shares of GameSquare during the 2nd quarter valued at $108,000. B Group Inc. acquired a new stake in shares of GameSquare in the 3rd quarter worth $170,000. Finally, Geode Capital Management LLC grew its stake in 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 buying an additional 41,196 shares during the last quarter. 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.