GameStop Corp. [GME] Revenue clocked in at $6.06 billion, down -28.30% YTD: What’s Next?

GameStop Corp. [NYSE: GME] price surged by 1.49 percent to reach at $0.39. The company report on November 28, 2022 that GameStop Announces Release Date for Third Quarter Fiscal 2022 Results.

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GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it will report third quarter fiscal 2022 results after the market closes on Wednesday, December 7, 2022. The Company will host an investor conference call at 5:00 pm ET on the same day to review its results. This call and all supplemental information can be accessed on GameStop’s investor relations website: https://investor.gamestop.com. The phone number for the investor conference call is 1-877-407-6169 and the confirmation code is 13734613. A recording of the conference call will be made available on the Company’s investor relations website.

A sum of 7598605 shares traded at recent session while its average daily volume was at 4.68M shares. GameStop Corp. shares reached a high of $27.50 and dropped to a low of $25.18 until finishing in the latest session at $26.60.

The one-year GME stock forecast points to a potential downside of -66.25. The average equity rating for GME stock is currently 4.00, trading closer to a bullish pattern in the stock market.

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 $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 1.91, with the Price to Sales ratio for GME stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 6.02, with the Price to Cash per share for the same quarter was set at 3.03.

GME Stock Performance Analysis:

GameStop Corp. [GME] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.37. With this latest performance, GME shares dropped by -6.31% in over the last four-week period, additionally sinking by -20.60% over the last 6 months – not to mention a drop of -40.84% 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 GME stock in for the last two-week period is set at 51.53, with the RSI for the last a single of trading hit 53.14, and the three-weeks RSI is set at 50.25 for GameStop Corp. [GME]. The present Moving Average for the last 50 days of trading for this stock 25.96, while it was recorded at 25.97 for the last single week of trading, and 30.56 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 1.40 and a Current Ratio set at 2.20.

GameStop Corp. [GME] Insider Position Details

There are presently around $2,097 million, or 26.00% of GME stock, in the hands of institutional investors. The top three institutional holders of GME stocks are: VANGUARD GROUP INC with ownership of 24,163,722, which is approximately 1.193% of the company’s market cap and around 15.62% of the total institutional ownership; BLACKROCK INC., holding 20,957,141 shares of the stock with an approximate value of $557.46 million in GME stocks shares; and STATE STREET CORP, currently with $184.31 million in GME stock with ownership of nearly 1.879% of the company’s market capitalization.

Positions in GameStop Corp. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 101 institutional holders increased their position in GameStop Corp. [NYSE:GME] by around 2,224,200 shares. Additionally, 125 investors decreased positions by around 5,284,369 shares, while 73 investors held positions by with 71,324,198 shares. The mentioned changes placed institutional holdings at 78,832,767 shares, according to the latest SEC report filing. GME stock had 25 new institutional investments in for a total of 623,704 shares, while 47 institutional investors sold positions of 641,892 shares during the same period.

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