Gamestop Corporation (NYSE:GME) shares, rose in value on Thursday, August 29, with the stock price up by 6.18% to the previous day’s close as strong demand from buyers drove the stock to $21.13.
Actively observing the price movement in the recent trading, the stock is buoying the session at $19.90, falling within a range of $20.47 and $21.38. The value of beta (5-year monthly) is -0.062 whereas the PE ratio is 259.26 over 12-month period. Referring to stock’s 52-week performance, its high was $64.83, and the low was $9.95. On the whole, GME has fluctuated by -6.79% over the past month.
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With the market capitalization of Gamestop Corporation currently standing at about $9.01 billion, investors are eagerly awaiting this quarter’s results, scheduled for in September.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 4.25B, with a low estimate of 891.34M and a high estimate of 900M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 895.67M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that GME’s technical picture suggests that short-term indicators denote the stock is a 50% 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 50% Buy.
The stock’s technical analysis shows that the price of GME currently trading nearly -2.65% and -10.33% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.23, while the 7-day volatility ratio is showing 3.83% which for the 30-day chart, stands at 4.37%. Furthermore, Gamestop Corporation (GME)’s beta value is -0.13, and its average true range (ATR) is 1.17.
A comparison of Gamestop Corporation (GME) with its peers suggests the former has fared considerably weaker in the market. GME showed an intraday change of 6.18% in today’s session so far, and over the past year, it grew by 15.84%%.
Data on historical trading for Gamestop Corporation (NYSE:GME) indicates that the trading volumes over the past 10 days have averaged 4.18 and over the past 3 months, they’ve averaged 34.34 million. According to company’s latest data on outstanding shares, there are 426.22 million shares outstanding.
Nearly 8.90% of Gamestop Corporation’s shares belong to company insiders and institutional investors own 23.04% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 35.97 million shares as on 2024-08-15, resulting in a short ratio of 3.62. According to the data, the short interest in Gamestop Corporation (GME) stood at 1021.00 of shares outstanding as of 2024-08-15; the number of short shares registered in 2024-07-15 reached 40.34 million. The stock has risen by 20.54% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GME stock heading into the next quarter.
