Redbox Entertainment Inc. [RDBX] Is Currently 50.28 above its 200 Period Moving Avg: What Does This Mean?

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Redbox Entertainment Inc. [NASDAQ: RDBX] gained 50.28% or 0.9 points to close at $2.69 with a heavy trading volume of 22792426 shares. The company report on January 7, 2022 that Redbox Entertainment to Present at the 2022 Virtual ICR Conference and the 24th Annual Needham Virtual Growth Conference.


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Redbox (NASDAQ: RDBX), a leading entertainment company, today announced that management will be presenting at the 2022 Virtual ICR Conference on Tuesday, January 11, 2022 at 2:00 pm ET and at the 24th Annual Needham Virtual Growth Conference on Thursday, January 13, 2022 at 2:45 pm ET. The company will also be holding one on one meetings at both conferences. Live and archived webcast links are available in the Events and Presentations section of the company’s Investor Relations website at investors.redbox.com.

It opened the trading session at $1.82, the shares rose to $3.48 and dropped to $1.79, the range by which the price of stock traded the whole day. The daily chart for RDBX points out that the company has recorded -73.09% loss over the past six months. However, it is still -67.08% lower than its most recent low trading price.

If we look at the average trading volume of 616.42K shares, RDBX reached to a volume of 22792426 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 Redbox Entertainment Inc. [RDBX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RDBX shares is $9.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RDBX stock is a recommendation set at 1.20. 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.

Wedbush have made an estimate for Redbox Entertainment Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 30, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on November 22, 2021, representing the official price target for Redbox Entertainment Inc. stock. Previously, the target price had yet another raise to $25, while Canaccord Genuity analysts kept a Buy rating on RDBX stock.

The Average True Range (ATR) for Redbox Entertainment Inc. is set at 0.28, with the Price to Sales ratio for RDBX stock in the period of the last 12 months amounting to 0.27. The Price to Book ratio for the last quarter was 0.39, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for RDBX stock

Redbox Entertainment Inc. [RDBX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 50.28. With this latest performance, RDBX shares gained by 22.83% in over the last four-week period, additionally sinking by -73.09% over the last 6 months – not to mention a drop of -72.80% 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 RDBX stock in for the last two-week period is set at 56.06, with the RSI for the last a single of trading hit 71.22, and the three-weeks RSI is set at 45.95 for Redbox Entertainment Inc. [RDBX]. The present Moving Average for the last 50 days of trading for this stock 3.37, while it was recorded at 1.96 for the last single week of trading, and 8.67 for the last 200 days.

Redbox Entertainment Inc. [RDBX]: A deeper dive into fundamental analysis

Reflecting on the efficiency of the workforce at the company, Redbox Entertainment Inc. [RDBX] managed to generate an average of $1,048,715 per employee.Redbox Entertainment Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

An analysis of insider ownership at Redbox Entertainment Inc. [RDBX]

There are presently around $111 million, in the hands of institutional investors. The top three institutional holders of RDBX stocks are: APOLLO MANAGEMENT HOLDINGS, L.P. with ownership of 34,526,487, which is approximately New of the company’s market cap and around 16.10% of the total institutional ownership; OPHIR ASSET MANAGEMENT PTY LTD, holding 2,813,250 shares of the stock with an approximate value of $7.57 million in RDBX stocks shares; and OMNI PARTNERS US LLC, currently with $3.2 million in RDBX stock with ownership of nearly 71.065% of the company’s market capitalization.

Positions in Redbox Entertainment Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 23 institutional holders increased their position in Redbox Entertainment Inc. [NASDAQ:RDBX] by around 40,414,503 shares. Additionally, 42 investors decreased positions by around 11,105,718 shares, while 2 investors held positions by with 10,186,709 shares. The mentioned changes placed institutional holdings at 41,333,512 shares, according to the latest SEC report filing. RDBX stock had 19 new institutional investments in for a total of 39,805,939 shares, while 42 institutional investors sold positions of 11,105,718 shares during the same period.

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