Hall of Fame Resort & Entertainment Company [HOFV] is 260.98% higher this YTD. Is it still time to buy?

Hall of Fame Resort & Entertainment Company [NASDAQ: HOFV] price plunged by -1.77 percent to reach at -$0.08. The company report on June 17, 2021 that Hall of Fame Resort and Entertainment Company Recognized with 2020 Hilton Legacy Award.

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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 and owner of the Hall of Fame Village powered by Johnson Controls (“the Destination”), announced it has been recognized with a 2020 Hilton Legacy Award for its conversion of the DoubleTree by Hilton Canton Downtown Hotel (the “Property”). HOFV completed a multi-million-dollar renovation of the Property in October 2020 that included gutting the hotel down to its studs for a complete overhaul of room layouts and to make space for new features such as a private dining area and meeting and entertainment space.

The Legacy Awards program, which celebrates owners and development partners in the Americas for contributions toward brand excellence and development efforts, recognize the passion, creativity and innovative spirit of Hilton’s partners who are committed to quality projects that meet or exceed brand standards and have a positive impact on communities around the world. The leadership of Hilton’s development and brand teams select the winners based on strict criteria including, but not limited to, hotel quality and commitment to guest experience.

A sum of 3172436 shares traded at recent session while its average daily volume was at 23.85M shares. Hall of Fame Resort & Entertainment Company shares reached a high of $4.65 and dropped to a low of $4.37 until finishing in the latest session at $4.44.

The one-year HOFV stock forecast points to a potential upside of 11.2. The average equity rating for HOFV stock is currently 2.00, trading closer to a bullish pattern in the stock market.

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 0.30, with the Price to Sales ratio for HOFV stock in the period of the last 12 months amounting to 45.89. The Price to Book ratio for the last quarter was 1.52, with the Price to Cash per share for the same quarter was set at 0.08.

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 -1.11. With this latest performance, HOFV shares gained by 32.93% in over the last four-week period, additionally plugging by 224.09% over the last 6 months – not to mention a drop of -55.56% 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 58.98, with the RSI for the last a single of trading hit 59.04, and the three-weeks RSI is set at 57.45 for Hall of Fame Resort & Entertainment Company [HOFV]. The present Moving Average for the last 50 days of trading for this stock 3.81, while it was recorded at 4.49 for the last single week of trading, and 2.82 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 -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.

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

There are presently around $39 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 $9.44 million in HOFV stocks shares; and VANGUARD GROUP INC, currently with $7.87 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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