Hall of Fame Resort & Entertainment Company [HOFV] Stock trading around $4.48 per share: What’s Next?

Hall of Fame Resort & Entertainment Company [NASDAQ: HOFV] gained 5.41% or 0.23 points to close at $4.48 with a heavy trading volume of 7753183 shares. The company report on June 7, 2021 that Hall of Fame Resort and Entertainment Company Announces Membership into the Russell 3000® Index.

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Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football, has been preliminarily added as a member to the Russell 3000® Index, effective after the US market opens on June 28, as part of the 2021 Russell indexes reconstitution. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes.

“We are honored to be included in the Russell 3000® index with future membership into the small-cap Russell 2000® Index. We are proud of how we are building a world-class resort and sports entertainment company and being listed as part of the Russell Indexes is a testament to all of the work that the team has put in,” stated President and CEO Michael Crawford. “Since becoming a publicly traded company last summer, we have strategically been building upon our three business verticals, added depth and experience to the management team, and executed on all fronts to best position the Company for long-term growth.”.

It opened the trading session at $4.30, the shares rose to $4.76 and dropped to $4.29, the range by which the price of stock traded the whole day. The daily chart for HOFV points out that the company has recorded 208.97% gains over the past six months. However, it is still -311.01% lower than its most recent low trading price.

If we look at the average trading volume of 23.78M shares, HOFV reached to a volume of 7753183 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 0.33, with the Price to Sales ratio for HOFV stock in the period of the last 12 months amounting to 46.38. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 0.08.

Trading performance analysis for HOFV stock

Hall of Fame Resort & Entertainment Company [HOFV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.74. With this latest performance, HOFV shares gained by 29.86% in over the last four-week period, additionally plugging by 208.97% over the last 6 months – not to mention a drop of -41.85% 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 66.11, with the RSI for the last a single of trading hit 75.48, and the three-weeks RSI is set at 60.81 for Hall of Fame Resort & Entertainment Company [HOFV]. The present Moving Average for the last 50 days of trading for this stock 3.90, while it was recorded at 4.22 for the last single week of trading, and 2.82 for the last 200 days.

Hall of Fame Resort & Entertainment Company [HOFV]: A deeper dive into fundamental analysis

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 -460.75. Hall of Fame Resort & Entertainment Company’s Net Margin is presently recorded at -640.76.

Return on Total Capital for HOFV is now -12.39, given the latest momentum, and Return on Invested Capital for the company is -17.22. Return on Equity for this stock declined to -27.52, with Return on Assets sitting at -14.63. 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 59.84. Additionally, HOFV Total Debt to Total Capital is recorded at 37.44, with Total Debt to Total Assets ending up at 31.82. Long-Term Debt to Equity for the company is recorded at 59.84, with the Long-Term Debt to Total Capital now at 37.44.

Reflecting on the efficiency of the workforce at the company, Hall of Fame Resort & Entertainment Company [HOFV] managed to generate an average of -$1,516,289 per employee. Receivables Turnover for the company is 4.59 with a Total Asset Turnover recorded at a value of 0.02.

An analysis of insider ownership at Hall of Fame Resort & Entertainment Company [HOFV]

There are presently around $40 million, or 14.10% of HOFV stock, in the hands of institutional investors. The top three institutional holders of HOFV stocks are: VOLORIDGE INVESTMENT MANAGEMENT, LLC with ownership of 2,207,719, which is approximately New of the company’s market cap and around 4.60% of the total institutional ownership; HUDSON BAY CAPITAL MANAGEMENT LP, holding 2,125,000 shares of the stock with an approximate value of $9.52 million in HOFV stocks shares; and VANGUARD GROUP INC, currently with $7.94 million in HOFV stock with ownership of nearly 322.608% 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 May and at the time of the May reporting period, where 33 institutional holders increased their position in Hall of Fame Resort & Entertainment Company [NASDAQ:HOFV] by around 7,670,282 shares. Additionally, 14 investors decreased positions by around 828,980 shares, while 3 investors held positions by with 364,216 shares. The mentioned changes placed institutional holdings at 8,863,478 shares, according to the latest SEC report filing. HOFV stock had 23 new institutional investments in for a total of 6,149,133 shares, while 9 institutional investors sold positions of 599,282 shares during the same period.

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