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Melco Resorts & Entertainment Limited (MLCO) Is Touching $6.75: At This Price, The Risk Is Justified.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) concluded the trading at $6.75 on Wednesday, November 23 with a rise of 1.20% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $6.67 and 5Y monthly beta was reading 1.25 with its price kept floating in the range of $6.545 and $6.81 on the day. Considering stock’s 52-week price range provides that MLCO hit a high price of $11.81 and saw its price falling to a low level of $4.06 during that period. Over a period of past 1-month, stock came adding 34.73% in its value.

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With its current market valuation of $3.09 billion, Melco Resorts & Entertainment Limited is set to declare its quarterly results on Nov 02, 2022. Analysts are in estimates of $0 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$1.84 for 2022 with estimates of that growing to $0 in next year.

In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $1.6 billion in 2022, which will be -16.00% less from revenue generated by the company last year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review MLCO stock’s current outlook then short term indicators are assigning it an average of 100% Buy, while medium term indicators are categorizing the stock at an average of 50% Buy. Long term indicators are suggesting an average of 50% Buy for it.

According to ratings assigned by 13 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 5 of them are recommending Melco Resorts & Entertainment Limited (MLCO) as a Hold, while 8 are in view that stock is a Buy. Recommendation by 0 analysts for the stock is an Underweight while number of those analysts who rated the stock as an Overweight is 0, whereas 0 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.

Digging deeper we become aware of the PEG ratio of the MLCO stock which is currently positioned at 0. It further provides that stock’s current price level is 5.01% away from its 20-day simple moving average and is 5.41% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 51.86 while volatility remained at 5.97% over the past week which changes to 7.01% when measuring it over the past month. Beta is valued at 1.17, while measure of average true range or ATR is currently at 0.53.

In comparing Melco Resorts & Entertainment Limited (MLCO)’s stock with other industry players reveals that stock’s current price change of 1.20% and that of -38.86% over the past 12 months. Industry’s another major player Las Vegas Sands Corp. (LVS) has rise 0.87% up in previous session, but over the past year has faced a rise of 8.16%, while Wynn Resorts Limited (WYNN) was also down -0.28% however its price remained floating in the red at -17.81% over the same period. Melco Resorts & Entertainment Limited has a P/E ratio of 0. On the other hand, the S&P 500 Index was up 0.59% in the last trading session while the Dow Jones Industrial closed the session higher at 0.28%.

Having a second look at Melco Resorts & Entertainment Limited (NASDAQ:MLCO) provides that stock’s average daily trading volume for 3 months was 5.50 million, while it jumped to 4.17 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 462.24 million.

The percentage of outstanding shares held by the insiders is 33.50% while it is 43.40% for the institutional holders. The figures also indicate that as of Oct 13, 2022, number of stock’s short shares was 10.56 million which implies a short ratio of 1.51. This shows up a 2.31% of Short Interest in company’s outstanding shares on the day. In October the standing of shares short improved as it was 9.52 million in the previous month. Subtraction of -33.69% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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