Gamestop Corporation (NYSE:GME) price on Wednesday, November 13, fall -1.42% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $26.46.
A look at the stock’s price movement, the close in the last trading session was $26.84, moving within a range at $26.2575 and $28.22. The beta value (5-Year monthly) was -0.098 while the PE ratio in trailing twelve months stood at 205.28. Turning to its 52-week performance, $64.83 and $9.95 were the 52-week high and 52-week low respectively. Overall, GME moved 24.40% over the past month.
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Gamestop Corporation’s market cap currently stands at around $11.29 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Dec-04.
Analysts have a consensus estimate of 887.7M for the company’s revenue for the quarter, with a low and high estimate of 875.4M and 900M respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.07B, representing a -22.90% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that GME is a 100% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 3 recommend GME as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
GME’s current price about 15.90% and 20.00% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 70.82, while 7-day volatility ratio is 8.62% and 5.20% in the 30-day chart. Further, Gamestop Corporation (GME) has a beta value of -0.10, and an average true range (ATR) of 1.36. Analysts have given the company’s stock an average 52-week price target of $18, forecast between a low of $11 and high of $25. Looking at the price targets, the low is 58.43% off current price level while to achieve the yearly target high, price needs to move 5.52%. Nonetheless, investors will most likely welcome a 31.97% jump to $18 which is the analysts’ median price.
If we refocus on Gamestop Corporation (NYSE:GME), historical trading data shows that trading volumes averaged 11.26 over the past 10 days and 8.78 million over the past 3 months. The company’s latest data on shares outstanding shows there are 426.51 million shares.
The 8.89% of Gamestop Corporation’s shares are in the hands of company insiders while institutional holders own 24.22% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 35.94 million on 2024-10-31, giving us a short ratio of 6.14. The data shows that as of 2024-10-31 short interest in Gamestop Corporation (GME) stood at 964.99994 of shares outstanding, with shares short falling to 38.13 million registered in 2024-09-30. Current price change has pushed the stock 50.94% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the GME stock continues to rise going into the next quarter.
