Grom Social Enterprises Inc [NASDAQ: GROM] price surged by 64.96 percent to reach at $0.5. The company report on March 7, 2024 at 8:30 AM that Grom Social Enterprises, Inc. to Further Expand Entertainment Offerings Through Gaming as it Enters Into Letter of Intent to Acquire Leading Gaming Company, Arctic7.
“The global gaming market represents a $185 billion market opportunity that continues to grow and innovate as represented by Disney’s recent $1.5 billion investment in Epic Games which underscores the opportunity for content-gaming partnerships to deepen the overall consumer connection in their entertainment experiences,” points out Grom’s CEO, Darren Marks. “Grom welcomes the opportunity to bring Arctic7 into the Grom portfolio not only to further fuel Arctic7’s growth in offering both gaming and virtual production capabilities but also so we can explore integrating Arctic7’s expertise into our expanding entertainment ecosystem through content collaboration, cross-promotional opportunities, product licensing, brand partnerships, merchandising, interactive experiences, educational gaming initiatives, and much more.”.
The one-year GROM stock forecast points to a potential upside of 89.42. The average equity rating for GROM stock is currently 1.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Grom Social Enterprises Inc [GROM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GROM shares is $12.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GROM stock is a recommendation set at 1.00. 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.
The Average True Range (ATR) for Grom Social Enterprises Inc is set at 0.13, with the Price to Sales ratio for GROM stock in the period of the last 12 months amounting to 0.53. The Price to Book ratio for the last quarter was 0.11, with the Price to Cash per share for the same quarter was set at 1.25.
GROM Stock Performance Analysis:
Grom Social Enterprises Inc [GROM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 59.15. With this latest performance, GROM shares gained by 71.62% in over the last four-week period, additionally sinking by -77.48% over the last 6 months – not to mention a drop of -92.24% 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 GROM stock in for the last two-week period is set at 75.66, with the RSI for the last a single of trading hit 83.72, and the three-weeks RSI is set at 67.93 for Grom Social Enterprises Inc [GROM]. The present Moving Average for the last 50 days of trading for this stock 0.8997, while it was recorded at 0.8707 for the last single week of trading, and 3.2747 for the last 200 days.
Insight into Grom Social Enterprises Inc Fundamentals:
Grom Social Enterprises Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.35 and a Current Ratio set at 1.37.
GROM Stock EPS
With the latest financial reports released by the company, Grom Social Enterprises Inc posted -218/share EPS, while the average EPS was predicted by analysts to be reported at -42/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -419.00%. 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 GROM.
Grom Social Enterprises Inc [GROM] Institutonal Ownership Details
The top three institutional holders of GROM 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 GROM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GROM stock with ownership which is approximately 5.8325%.
