Paramount Global [NASDAQ: PARA] loss -1.70% or -0.25 points to close at $14.43 with a heavy trading volume of 14237733 shares. The company report on February 2, 2024 at 1:22 PM that OTOY Launches Groundbreaking Multi-Hour Star Trek Spatial Experience for the Apple Vision Pro, in Partnership with Paramount Game Studios and Roddenberry Entertainment.
OTOY, Paramount Game Studios and Roddenberry Entertainment follow up with Roddenberry Archive experience produced at the highest levels of fidelity and historical accuracy for the Apple Vision Pro.
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In partnership with Paramount Game Studios and The Gene Roddenberry Estate, OTOY is thrilled to unveil the ‘The Archive’ for the Apple Vision Pro – launching on the App Store today in tandem with the release of Apple’s new spatial computing platform. The app marks a major evolution of the Roddenberry Archive project, which had over 4-million visitors during a limited 3-week preview on the web in April 2023.
The daily chart for PARA points out that the company has recorded -4.37% loss over the past six months.
If we look at the average trading volume of 17.21M shares, PARA reached to a volume of 14237733 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 Paramount Global [PARA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PARA shares is $14.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PARA stock is a recommendation set at 3.26. 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.
Redburn Atlantic have made an estimate for Paramount Global shares, keeping their opinion on the stock as Sell, with their previous recommendation back on January 11, 2024.
The Average True Range (ATR) for Paramount Global is set at 0.65, with the Price to Sales ratio for PARA stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 0.43, with the Price to Cash per share for the same quarter was set at 2.77.
Trading performance analysis for PARA stock
Paramount Global [PARA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.57. With this latest performance, PARA shares gained by 1.69% in over the last four-week period, additionally sinking by -4.37% over the last 6 months – not to mention a drop of -40.86% 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 PARA stock in for the last two-week period is set at 54.27, with the RSI for the last a single of trading hit 58.52, and the three-weeks RSI is set at 52.63 for Paramount Global [PARA]. The present Moving Average for the last 50 days of trading for this stock 14.61, while it was recorded at 14.23 for the last single week of trading, and 14.88 for the last 200 days.
Paramount Global [PARA]: A deeper dive into fundamental analysis
Paramount Global’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.09 and a Current Ratio set at 1.26.
Paramount Global [PARA]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Paramount Global posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.23/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -65.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PARA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Paramount Global go to -8.10%.
An analysis of Institutional ownership at Paramount Global [PARA]
The top three institutional holders of PARA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PARA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PARA stock with ownership which is approximately 5.8325%.
