Melco Resorts & Entertainment Ltd ADR [NASDAQ: MLCO] stock went on a downward path that fall over -4.63% on Tuesday, amounting to a one-week price decrease of less than -9.46%.
Over the last 12 months, MLCO stock dropped by -34.15%. The one-year Melco Resorts & Entertainment Ltd ADR stock forecast points to a potential upside of 35.03. The average equity rating for MLCO stock is currently 1.69, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.25 billion, with 419.71 million shares outstanding and 419.45 million shares in the current float. Compared to the average trading volume of 3.69M shares, MLCO stock reached a trading volume of 6712718 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Melco Resorts & Entertainment Ltd ADR [MLCO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MLCO shares is $8.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MLCO stock is a recommendation set at 1.69. 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.
Morgan Stanley have made an estimate for Melco Resorts & Entertainment Ltd ADR shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on December 17, 2024. While these analysts kept the previous recommendation, JP Morgan raised their target price from $10 to $7. The new note on the price target was released on July 18, 2024, representing the official price target for Melco Resorts & Entertainment Ltd ADR stock. Previously, the target price had yet another raise from $7.50 to $10.40, while BofA Securities kept a Buy rating on MLCO stock. On May 06, 2024, analysts increased their price target for MLCO shares from 8.30 to 9.60.
The Average True Range (ATR) for Melco Resorts & Entertainment Ltd ADR is set at 0.26, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 0.50.
MLCO Stock Performance Analysis:
Melco Resorts & Entertainment Ltd ADR [MLCO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.46. With this latest performance, MLCO shares dropped by -2.90% in over the last four-week period, additionally plugging by 4.08% over the last 6 months – not to mention a drop of -34.15% 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 MLCO stock in for the last two-week period is set at 39.60, with the RSI for the last a single of trading hit 37.33, and the three-weeks RSI is set at 40.74 for Melco Resorts & Entertainment Ltd ADR [MLCO]. The present Moving Average for the last 50 days of trading for this stock 6.01, while it was recorded at 5.80 for the last single week of trading, and 6.58 for the last 200 days.
Insight into Melco Resorts & Entertainment Ltd ADR Fundamentals:
Melco Resorts & Entertainment Ltd ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.16 and a Current Ratio set at 1.19.
Melco Resorts & Entertainment Ltd ADR [MLCO] Institutonal Ownership Details
The top three institutional holders of MLCO stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 31.12 million shares, which is approximately 7.1208%. ARGA INVESTMENT MANAGEMENT, LP, holding 29.47 million shares of the stock with an approximate value of $$219.83 million in MLCO stocks shares; and ARGA INVESTMENT MANAGEMENT, LP, currently with $$130.56 million in MLCO stock with ownership which is approximately 4.0042%.
