Redbox Entertainment Inc. (NASDAQ:RDBX) shares, rose in value on Thursday, 08/04/22, with the stock price down by -2.72% to the previous day’s close as strong demand from buyers drove the stock to $3.94.
Actively observing the price movement in the last trading, the stock closed the session at $4.05, falling within a range of $3.90 and $4.55. Referring to stock’s 52-week performance, its high was $27.22, and the low was $1.61. On the whole, RDBX has fluctuated by -37.36% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.64, which is expected to increase to -$0.27 for fiscal year -$1.53 and then to about -$0.18 by fiscal year 2023. Data indicates that the EPS growth is expected to be -84.30% in 2023, while the next year’s EPS growth is forecast to be 88.20%.
Analysts have estimated the company’s revenue for the quarter at $70.69 million, with a low estimate of $69.5 million and a high estimate of $71.88 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $409.48 million, representing a decrease of -0.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that RDBX’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Sell.
3 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 2 analyst(s), 0 recommend it as a Buy and 0 called the RDBX stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 1 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Underweight.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RDBX currently trading nearly -18.80% and -44.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 41.34, while the 7-day volatility ratio is showing 14.99% which for the 30-day chart, stands at 18.85%. Furthermore, Redbox Entertainment Inc. (RDBX)’s average true range (ATR) is 0.93. The company’s stock has been forecasted to trade at an average price of $0.75 over the course of the next 52 weeks, with a low of $0.50 and a high of $1.00. Based on these price targets, the low is 87.31% off current price, whereas the price has to move 74.62% to reach the yearly target high. Additionally, analysts’ median price of $0.75 is likely to be welcomed by investors because it represents an increase of 80.96% from the current levels.
Data on historical trading for Redbox Entertainment Inc. (NASDAQ:RDBX) indicates that the trading volumes over the past 10 days have averaged 19.85 million and over the past 3 months, they’ve averaged 18.40 million. According to company’s latest data on outstanding shares, there are 12.62 million shares outstanding.
Nearly 0.30% of Redbox Entertainment Inc.’s shares belong to company insiders and institutional investors own 79.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.25 million shares as on Jul 14, 2022, resulting in a short ratio of 0.28. According to the data, the short interest in Redbox Entertainment Inc. (RDBX) stood at 16.46% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 6.07 million. The stock has fallen by -46.83% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RDBX stock heading into the next quarter.