Hall of Fame Resort & Entertainment Company [HOFV] is 30.89% higher this YTD. Is it still time to buy?



Hall of Fame Resort & Entertainment Company [NASDAQ: HOFV] gained 5.92% or 0.09 points to close at $1.61 with a heavy trading volume of 1974566 shares. The company report on December 23, 2021 that Hall of Fame Resort & Entertainment Company Announces Agreement with Rush Street Interactive to Bring Sports Betting to Hall of Fame Village.

Arrangement will result in premier sports betting retail location at the Hall of Fame Village powered by Johnson Controls’ Fan Engagement Zone.

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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, today announced it has signed a 10-year agreement with Rush Street Interactive, Inc. (“RSI”) (NYSE: RSI) to allow for the operation of a premier sports betting location at the Hall of Fame Village powered by Johnson Controls, subject to procurement of necessary licenses.

The daily chart for HOFV points out that the company has recorded -58.18% loss over the past six months.

If we look at the average trading volume of 1.37M shares, HOFV reached to a volume of 1974566 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 0.15, with the Price to Sales ratio for HOFV stock in the period of the last 12 months amounting to 15.81. The Price to Book ratio for the last quarter was 0.80, with the Price to Cash per share for the same quarter was set at 0.14.

Trading performance analysis for HOFV stock

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 -7.47. With this latest performance, HOFV shares dropped by -13.44% in over the last four-week period, additionally sinking by -58.18% over the last 6 months – not to mention a rise of 29.84% 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 38.09, with the RSI for the last a single of trading hit 38.21, and the three-weeks RSI is set at 38.39 for Hall of Fame Resort & Entertainment Company [HOFV]. The present Moving Average for the last 50 days of trading for this stock 2.0540, while it was recorded at 1.6200 for the last single week of trading, and 3.1423 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 -17.38, given the latest momentum, and Return on Invested Capital for the company is -24.16. Return on Equity for this stock declined to -33.13, with Return on Assets sitting at -21.25. 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 9.19 with a Total Asset Turnover recorded at a value of 0.03.

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

There are presently around $19 million, or 17.60% of HOFV stock, in the hands of institutional investors. The top three institutional holders of HOFV stocks are: BLACKROCK INC. with ownership of 3,635,464, which is approximately -0.073% of the company’s market cap and around 4.20% of the total institutional ownership; VANGUARD GROUP INC, holding 2,625,453 shares of the stock with an approximate value of $3.99 million in HOFV stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.61 million in HOFV stock with ownership of nearly 13.699% of the company’s market capitalization.

Positions in Hall of Fame Resort & Entertainment Company stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 29 institutional holders increased their position in Hall of Fame Resort & Entertainment Company [NASDAQ:HOFV] by around 2,088,903 shares. Additionally, 29 investors decreased positions by around 1,839,310 shares, while 16 investors held positions by with 8,512,205 shares. The mentioned changes placed institutional holdings at 12,440,418 shares, according to the latest SEC report filing. HOFV stock had 15 new institutional investments in for a total of 1,680,502 shares, while 7 institutional investors sold positions of 180,827 shares during the same period.