Hall of Fame Resort & Entertainment Company [HOFV] Stock trading around $3.57 per share: What’s Next?

Hall of Fame Resort & Entertainment Company [NASDAQ: HOFV] stock went on a downward path that fall over -5.05% on Tuesday, amounting to a one-week price decrease of less than -20.31%. The company report on April 8, 2021 that Hall of Fame Resort & Entertainment Company, in Partnership with Dolphin Entertainment and H2H, Announces First NFT Offering.

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Offering will allow sports fans to buy and sell merchandise and other content associated with the 10 athletes who won the Heisman Trophy and are members of the Pro Football Hall of Fame (“H2H Legends”).

Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football, announced its first non-fungible tokens (“NFTs”) offering in partnership with Dolphin Entertainment, Inc. (“Dolphin Entertainment”) (NASDAQ: DLPN) and Elite Holdings LLC (“Elite Holdings”), the entity which owns H2H. Together, the companies will develop, market, promote and sell NFTs associated with the H2H Legends.

Over the last 12 months, HOFV stock dropped by -52.22%. The one-year Hall of Fame Resort & Entertainment Company stock forecast points to a potential upside of 28.6. The average equity rating for HOFV stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $323.87 million, with 83.28 million shares outstanding and 45.46 million shares in the current float. Compared to the average trading volume of 24.03M shares, HOFV stock reached a trading volume of 6688468 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Hall of Fame Resort & Entertainment Company [HOFV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HOFV shares is $5.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HOFV stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Hall of Fame Resort & Entertainment Company is set at 0.77, with the Price to Sales ratio for HOFV stock in the period of the last 12 months amounting to 45.62. The Price to Book ratio for the last quarter was 0.77, with the Price to Cash per share for the same quarter was set at 0.09.

HOFV Stock Performance Analysis:

Hall of Fame Resort & Entertainment Company [HOFV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.31. With this latest performance, HOFV shares gained by 43.37% in over the last four-week period, additionally plugging by 48.75% over the last 6 months – not to mention a drop of -52.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HOFV stock in for the last two-week period is set at 45.84, with the RSI for the last a single of trading hit 39.32, and the three-weeks RSI is set at 49.03 for Hall of Fame Resort & Entertainment Company [HOFV]. The present Moving Average for the last 50 days of trading for this stock 3.29, while it was recorded at 4.05 for the last single week of trading, and 3.34 for the last 200 days.

Insight into Hall of Fame Resort & Entertainment Company Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Hall of Fame Resort & Entertainment Company [HOFV] shares currently have an operating margin of -447.65. Hall of Fame Resort & Entertainment Company’s Net Margin is presently recorded at -1004.23.

Return on Total Capital for HOFV is now -11.23, given the latest momentum, and Return on Invested Capital for the company is -25.17. Return on Equity for this stock declined to -38.66, with Return on Assets sitting at -22.93. When it comes to the capital structure of this company, Hall of Fame Resort & Entertainment Company [HOFV] has a Total Debt to Total Equity ratio set at 53.64. Additionally, HOFV Total Debt to Total Capital is recorded at 34.91, with Total Debt to Total Assets ending up at 31.82. Long-Term Debt to Equity for the company is recorded at 53.64, with the Long-Term Debt to Total Capital now at 34.91.

Reflecting on the efficiency of the workforce at the company, Hall of Fame Resort & Entertainment Company [HOFV] managed to generate an average of -$2,376,393 per employee. Receivables Turnover for the company is 4.59 with a Total Asset Turnover recorded at a value of 0.02.

Hall of Fame Resort & Entertainment Company [HOFV] Insider Position Details

There are presently around $7 million, or 7.70% of HOFV stock, in the hands of institutional investors. The top three institutional holders of HOFV stocks are: VANGUARD GROUP INC with ownership of 419,175, which is approximately New of the company’s market cap and around 5.10% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 349,163 shares of the stock with an approximate value of $1.25 million in HOFV stocks shares; and QUINN OPPORTUNITY PARTNERS LLC, currently with $0.8 million in HOFV stock with ownership of nearly 561.929% of the company’s market capitalization.

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Positions in Hall of Fame Resort & Entertainment Company stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 19 institutional holders increased their position in Hall of Fame Resort & Entertainment Company [NASDAQ:HOFV] by around 1,466,917 shares. Additionally, 7 investors decreased positions by around 120,676 shares, while 2 investors held positions by with 434,583 shares. The mentioned changes placed institutional holdings at 2,022,176 shares, according to the latest SEC report filing. HOFV stock had 12 new institutional investments in for a total of 862,917 shares, while 1 institutional investors sold positions of 18,041 shares during the same period.

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