GameStop Corp. [NYSE: GME] stock went on an upward path that rose over 14.36% on Tuesday, amounting to a one-week price increase of more than 17.44%. The company report on June 1, 2022 that GameStop Reports First Quarter Fiscal Year 2022 Results.
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GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today released financial results for the first quarter ended April 30, 2022. The Company’s condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company’s Form 10-Q and supplemental information can be found at http://investor.GameStop.com.
Over the last 12 months, GME stock dropped by -51.17%. The one-year GameStop Corp. stock forecast points to a potential downside of -169.65. The average equity rating for GME stock is currently 4.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $11.18 billion, with 75.90 million shares outstanding and 64.19 million shares in the current float. Compared to the average trading volume of 5.03M shares, GME stock reached a trading volume of 6196926 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on GameStop Corp. [GME]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GME shares is $54.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GME stock is a recommendation set at 4.00. 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.
Ascendiant Capital Markets have made an estimate for GameStop Corp. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on April 12, 2021. While these analysts kept the previous recommendation, Telsey Advisory Group dropped their target price from $33 to $30. The new note on the price target was released on March 24, 2021, representing the official price target for GameStop Corp. stock. Previously, the target price had yet another raise from $16 to $29, while Wedbush kept a Underperform rating on GME stock. On January 27, 2021, analysts increased their price target for GME shares from 1.60 to 10.
The Average True Range (ATR) for GameStop Corp. is set at 15.63, with the Price to Sales ratio for GME stock in the period of the last 12 months amounting to 1.83. The Price to Book ratio for the last quarter was 7.67, with the Price to Cash per share for the same quarter was set at 13.56.
GME Stock Performance Analysis:
GameStop Corp. [GME] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.44. With this latest performance, GME shares gained by 27.72% in over the last four-week period, additionally sinking by -12.34% over the last 6 months – not to mention a drop of -51.17% 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 GME stock in for the last two-week period is set at 61.90, with the RSI for the last a single of trading hit 67.14, and the three-weeks RSI is set at 58.36 for GameStop Corp. [GME]. The present Moving Average for the last 50 days of trading for this stock 130.08, while it was recorded at 132.74 for the last single week of trading, and 151.45 for the last 200 days.
Insight into GameStop Corp. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and GameStop Corp. [GME] shares currently have an operating margin of -5.96 and a Gross Margin at +21.20. GameStop Corp.’s Net Margin is presently recorded at -6.34.
Return on Equity for this stock declined to -37.40, with Return on Assets sitting at -12.39.
GameStop Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.10.
GameStop Corp. [GME] Insider Position Details
There are presently around $2,711 million, or 28.30% of GME stock, in the hands of institutional investors. The top three institutional holders of GME stocks are: VANGUARD GROUP INC with ownership of 5,958,493, which is approximately 0.449% of the company’s market cap and around 15.91% of the total institutional ownership; BLACKROCK INC., holding 5,219,873 shares of the stock with an approximate value of $668.67 million in GME stocks shares; and STATE STREET CORP, currently with $215.75 million in GME stock with ownership of nearly 1.834% of the company’s market capitalization.
Positions in GameStop Corp. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 126 institutional holders increased their position in GameStop Corp. [NYSE:GME] by around 2,272,121 shares. Additionally, 123 investors decreased positions by around 1,235,761 shares, while 77 investors held positions by with 17,654,338 shares. The mentioned changes placed institutional holdings at 21,162,220 shares, according to the latest SEC report filing. GME stock had 42 new institutional investments in for a total of 379,738 shares, while 43 institutional investors sold positions of 260,668 shares during the same period.