GameStop Corp. [NYSE: GME] loss -5.68% or -0.96 points to close at $15.95 with a heavy trading volume of 4517247 shares. The company report on March 8, 2023 that GameStop Announces Release Date for Fourth Quarter and Full Year Fiscal 2022 Results.
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GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it will report fourth quarter and full year fiscal 2022 results after the market closes on Tuesday, March 21, 2023. 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 13736983. A recording of the conference call will be made available on the Company’s investor relations website.
It opened the trading session at $16.50, the shares rose to $16.69 and dropped to $15.695, the range by which the price of stock traded the whole day. The daily chart for GME points out that the company has recorded -42.73% loss over the past six months. However, it is still -3.5% lower than its most recent low trading price.
If we look at the average trading volume of 4.43M shares, GME reached to a volume of 4517247 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 $12.65 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 1.15, with the Price to Sales ratio for GME stock in the period of the last 12 months amounting to 0.83. The Price to Book ratio for the last quarter was 3.90, with the Price to Cash per share for the same quarter was set at 3.37.
Trading performance analysis for GME stock
GameStop Corp. [GME] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.22. With this latest performance, GME shares dropped by -18.99% in over the last four-week period, additionally sinking by -42.73% over the last 6 months – not to mention a drop of -18.32% 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 30.79, with the RSI for the last a single of trading hit 22.49, and the three-weeks RSI is set at 35.97 for GameStop Corp. [GME]. The present Moving Average for the last 50 days of trading for this stock 19.65, while it was recorded at 16.88 for the last single week of trading, and 26.85 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 0.90 and a Current Ratio set at 1.60.
An analysis of insider ownership at GameStop Corp. [GME]
There are presently around $1,359 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 24,664,433, which is approximately 2.072% of the company’s market cap and around 15.62% of the total institutional ownership; BLACKROCK INC., holding 21,977,404 shares of the stock with an approximate value of $350.54 million in GME stocks shares; and STATE STREET CORP, currently with $115.71 million in GME stock with ownership of nearly 4.697% of the company’s market capitalization.
Positions in GameStop Corp. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 126 institutional holders increased their position in GameStop Corp. [NYSE:GME] by around 8,352,326 shares. Additionally, 100 investors decreased positions by around 1,809,434 shares, while 70 investors held positions by with 75,044,388 shares. The mentioned changes placed institutional holdings at 85,206,148 shares, according to the latest SEC report filing. GME stock had 46 new institutional investments in for a total of 2,625,381 shares, while 41 institutional investors sold positions of 1,332,146 shares during the same period.