Gamestop Corporation (NYSE:GME) shares, rose in value on Wednesday, November 20, with price up by 3.19% to the previous day’s close as strong demand from buyers drove the stock to $28.45.
Actively observing the price movement in the last trading, the stock closed the session at $27.57, falling within a range of $27.27 and $29.8. The value of beta (5-year monthly) was -0.098 whereas the PE ratio was 220.71 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 35.93% over the past month.
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With the market capitalization of Gamestop Corporation currently standing at about $12.13 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 4.07B, with a low estimate of 875.37M and a high estimate of 900M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 887.68M.
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 100% Buy on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of GME currently trading nearly 16.55% and 26.52% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 73.25, while the 7-day volatility ratio is showing 7.24% which for the 30-day chart, stands at 6.27%. Furthermore, Gamestop Corporation (GME)’s beta value is -0.09, and its average true range (ATR) is 1.55.
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 3.19% in last session, and over the past year, it grew by 122.27%%.
Data on historical trading for Gamestop Corporation (NYSE:GME) indicates that the trading volumes over the past 10 days have averaged 15.78 and over the past 3 months, they’ve averaged 9.51 million. According to company’s latest data on outstanding shares, there are 426.51 million shares outstanding.
Nearly 8.89% of Gamestop Corporation’s shares belong to company insiders and institutional investors own 29.58% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 35.94 million shares as on 2024-10-31, resulting in a short ratio of 6.14. According to the data, the short interest in Gamestop Corporation (GME) stood at 965.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 38.13 million. The stock has risen by 62.29% 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.
