GameStop Corp. [GME] Stock trading around $26.87 per share: What’s Next?

GameStop Corp. [NYSE: GME] gained 8.74% on the last trading session, reaching $26.87 price per share at the time. The company report on September 7, 2022 that GameStop Forms Partnership with FTX.

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GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has entered into a partnership with FTX US (“FTX”). The partnership is intended to introduce more GameStop customers to FTX’s community and its marketplaces for digital assets. In addition to collaborating with FTX on new ecommerce and online marketing initiatives, GameStop will begin carrying FTX gift cards in select stores.

During the term of the partnership, GameStop will be FTX’s preferred retail partner in the United States.

If compared to the average trading volume of 5.42M shares, GME reached a trading volume of 7767233 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 $16.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on 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 1.88, with the Price to Sales ratio for GME stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 6.08, with the Price to Cash per share for the same quarter was set at 3.09.

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 0.75. With this latest performance, GME shares gained by 9.76% in over the last four-week period, additionally sinking by -15.77% over the last 6 months – not to mention a drop of -38.22% 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 52.24, with the RSI for the last a single of trading hit 57.50, and the three-weeks RSI is set at 49.22 for GameStop Corp. [GME]. The present Moving Average for the last 50 days of trading for this stock 28.17, while it was recorded at 25.17 for the last single week of trading, and 30.77 for the last 200 days.

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

GameStop Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 2.20.

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

There are presently around $2,204 million, or 27.30% of GME stock, in the hands of institutional investors. The top three institutional holders of GME stocks are: VANGUARD GROUP INC with ownership of 23,878,960, which is approximately 0.189% of the company’s market cap and around 15.63% of the total institutional ownership; BLACKROCK INC., holding 20,641,296 shares of the stock with an approximate value of $554.63 million in GME stocks shares; and STATE STREET CORP, currently with $182.75 million in GME stock with ownership of nearly 0.952% of the company’s market capitalization.

120 institutional holders increased their position in GameStop Corp. [NYSE:GME] by around 6,861,962 shares. Additionally, 116 investors decreased positions by around 9,120,715 shares, while 74 investors held positions by with 66,030,074 shares. The mentioned changes placed institutional holdings at 82,012,751 shares, according to the latest SEC report filing. GME stock had 32 new institutional investments in for a total of 1,068,388 shares, while 44 institutional investors sold positions of 2,239,792 shares during the same period.


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