Gamestop – GME) Stock Could Reward Investors With A Loss Of -9.52% – Marketing Sentinel
In the last trading session, 2.42 million shares of the GameStop Corp. (((NYSE:GM)E)) were traded, and its beta was -2.00. Most recently the company’s share price was $173.49, and it changed around $4.45 or 2.63% from the last close, which brings the market valuation of the company to $12.30B. GME currently trades at a discount to its 52-week high of $483.00, offering almost -178.4% off that amount. The share price’s 52-week low was $3.77, which indicates that the current value has risen by an impressive 97.83% since then. We note from GameStop Corp.’s average daily trading volume that its 10-day average is 3.11 million shares, with the 3-month average coming to 6.60 million.
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GameStop Corp. stock received a consensus recommendation rating of an Underweight, based on a mean score of 4.00. If we narrow it down even further, the data shows that 2 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended GME as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. GameStop Corp. is expected to report earnings per share of -$0.6 for the current quarter.
Instantly GME has showed a green trend with a performance of 2.63% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 188.79 on Monday, 07/19/21 increased the stock’s daily price by 8.1%. The company’s shares are currently up 820.86% year-to-date, but still down -8.33% over the last five days. On the other hand, GameStop Corp. (((NYSE:GM)E)) is -22.41% down in the 30-day period. We can see from the shorts that 11.11 million shares have been sold at a short interest cover period of 0.65 day(s).
The consensus price target as assigned by Wall Street analysts is $72.50, which translates to bulls needing to decrease their stock price by -139.3% from its current value. Analyst projections state that GME is forecast to be at a low of $25.00 and a high of $190.00. In order for the stock price to hit the forecast high, the stock would need to plunge -9.52% from its current level, while the stock would need to crash 85.59% from its current level to reach the projected low.
GameStop Corp. (GME) estimates and forecasts
GameStop Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 388.70 percent over the past six months and at a 42.52% annual growth rate that is well above the industry average of 28.90%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 57.10% in revenue this quarter, and will report an increase of 26.40% in the next quarter. The year-over-year growth rate is expected to be 11.80%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $1.13 billion in revenue for the current quarter. 3 analysts expect GameStop Corp. to make $1.23 billion in revenue for the quarter ending Oct 2021.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -23.50%.
GameStop Corp.’s next quarterly earnings report is expected to be released around June 23 and June 30.
Upon looking at major shareholders, it appears that insiders hold 19.42% of GameStop Corp. shares, and 108.54% of them are in the hands of institutional investors. The stock currently has a share float of 134.69%. GameStop Corp. stock is held by 322 institutions, with FMR, LLC being the largest institutional investor. By Dec 30, 2020, it held 13.11% of the shares, which is about 9.28 million shares worth $174.76 million.
Blackrock Inc., with 13.02% or 9.22 million shares worth $173.65 million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
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iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Mar 30, 2021. The former held 3.65 million shares worth $692.01 million, making up 5.15% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.47 million shares worth around $27.66 million, which represents about 2.07% of the total shares outstanding.