GameSquare Holdings, Inc. (NASDAQ:GAME) Sees Large Decrease in Short Interest

GameSquare Holdings, Inc. (NASDAQ:GAME) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 4,029,642 shares, a decline of 25.5% from the December 15th total of 5,411,531 shares. Currently, 4.3% of the shares of the company are sold short. Based on an average daily trading volume, of 1,464,345 shares, the days-to-cover ratio is currently 2.8 days. Based on an average daily trading volume, of 1,464,345 shares, the days-to-cover ratio is currently 2.8 days. Currently, 4.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GAME shares. Wall Street Zen cut GameSquare from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (e+)” rating on shares of GameSquare in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On GameSquare

Several large investors have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new stake in shares of GameSquare during the third quarter worth $1,358,000. B Group Inc. bought a new position in GameSquare in the 3rd quarter worth about $170,000. UBS Group AG increased its position in shares of GameSquare by 275,329.0% during the third quarter. UBS Group AG now owns 1,669,100 shares of the entertainment company’s stock worth $1,133,000 after acquiring an additional 1,668,494 shares during the period. Vanguard Group Inc. grew its stake in GameSquare by 353.8% in the third quarter. Vanguard Group Inc. now owns 4,282,748 shares of the entertainment company’s stock worth $2,908,000 after purchasing an additional 3,339,080 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in GameSquare in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

GameSquare Price Performance

GAME traded down $0.00 during trading on Friday, hitting $0.44. 351,399 shares of the stock traded hands, compared to its average volume of 1,181,386. GameSquare has a 12-month low of $0.37 and a 12-month high of $2.87. The firm has a market capitalization of $43.40 million, a P/E ratio of -0.42 and a beta of 0.77. The firm has a 50-day moving average of $0.48 and a 200 day moving average of $0.75.

GameSquare (NASDAQ:GAME) last released its quarterly earnings data on Thursday, November 13th. The entertainment company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). GameSquare had a negative return on equity of 168.15% and a negative net margin of 49.30%.The business had revenue of $11.31 million during the quarter, compared to analysts’ expectations of $26.80 million.

GameSquare Company Profile

GameSquare Inc (NASDAQ: GAME) is a digital media and marketing company focused on the global gaming and esports industries. The company operates a network of online properties and community platforms that deliver editorial content, live event coverage, and video programming to enthusiasts and consumers. GameSquare’s offerings span both traditional gaming titles and competitive esports leagues, enabling advertisers and brand partners to engage with a diverse and highly engaged audience.

Through its flagship Enthusiast Gaming network, GameSquare oversees a portfolio of more than 35 websites and digital channels, including long-standing properties such as Destructoid, The Escapist and Daily Esports.