GameStop Corp. [GME] Stock trading around $35.84 per share: What’s Next?

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GameStop Corp. [NYSE: GME] gained 3.05% on the last trading session, reaching $35.84 price per share at the time. The company report on July 11, 2022 that GameStop Launches NFT Marketplace.


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Public Beta Version Live at https://NFT.Gamestop.com.

GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has launched its non-fungible token (“NFT”) marketplace to allow gamers, creators, collectors and other community members to buy, sell and trade NFTs. The Company’s NFT marketplace is a non-custodial, Ethereum Layer 2-based marketplace that enables parties to truly own their digital assets, which are represented and secured on the blockchain. The marketplace, which can be accessed at https://nft.gamestop.com, allows parties to connect to their own digital asset wallets such as the recently launched GameStop Wallet. Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators and other Ethereum environments.

GameStop Corp. represents 303.60 million in outstanding shares, while the company has a total market value of $10.84 billion with the latest information. GME stock price has been found in the range of $35.12 to $36.80.

If compared to the average trading volume of 13.70M shares, GME reached a trading volume of 4655420 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 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 $13.58 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 2.37, with the Price to Sales ratio for GME stock in the period of the last 12 months amounting to 1.77. The Price to Book ratio for the last quarter was 7.50, with the Price to Cash per share for the same quarter was set at 3.42.

Trading performance analysis for GME stock

GameStop Corp. [GME] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.51. With this latest performance, GME shares gained by 16.16% in over the last four-week period, additionally plugging by 31.61% over the last 6 months – not to mention a drop of -9.06% 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 55.19, with the RSI for the last a single of trading hit 56.59, and the three-weeks RSI is set at 54.34 for GameStop Corp. [GME]. The present Moving Average for the last 50 days of trading for this stock 32.78, while it was recorded at 34.45 for the last single week of trading, and 35.15 for the last 200 days.

GameStop Corp. [GME]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at GameStop Corp. [GME]

There are presently around $3,022 million, or 28.10% of GME stock, in the hands of institutional investors. The top three institutional holders of GME stocks are: VANGUARD GROUP INC with ownership of 23,833,972, which is approximately 0.449% of the company’s market cap and around 15.91% of the total institutional ownership; BLACKROCK INC., holding 20,879,492 shares of the stock with an approximate value of $748.32 million in GME stocks shares; and STATE STREET CORP, currently with $241.46 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 September and at the time of the September reporting period, where 127 institutional holders increased their position in GameStop Corp. [NYSE:GME] by around 8,814,556 shares. Additionally, 120 investors decreased positions by around 5,088,252 shares, while 78 investors held positions by with 70,411,520 shares. The mentioned changes placed institutional holdings at 84,314,328 shares, according to the latest SEC report filing. GME stock had 43 new institutional investments in for a total of 1,591,756 shares, while 43 institutional investors sold positions of 831,052 shares during the same period.

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