Gamestop Corporation (NYSE:GME) finished Friday with a subtraction of -$0.38 to close at $16.46, a downside of -2.26 percent. An average of 3,483,640 shares of common stock have been traded in the last five days. There was a fall of -$0.72 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 3,678,365 shares traded, while the 50-day average volume stands at 3,003,272.
GME stock has decreased by -10.40% in the last month. The company shares reached their 1-month lowest point of $16.40 on 09/29/23. With the stock rallying to its 52-week high on 06/13/23, shares of the company touched a low of $15.41 and a high of $34.99 in 52 weeks. It has reached a new high 13 times so far this year and lost -10.83% or -$2.00 in price. In spite of this, the price is down -52.96% from the 52-week high.
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Insider Transactions
GME stock investors should be aware that Gamestop Corporation (GME) stock had its last reported insider trading activity 82 days ago on Sep 11. In this transaction, the insider spent $2,287,674. Chief Operating Officer, Patel Nir Vinay, disposed of 20,149 shares at a price of $23.27 on Jul 06. The insider now owns more than $468,807 worth of shares. Prior to that, Chief Financial Officer Saadeh-Jajeh Diana went on to Sale 10,484 shares at $23.27 each on Jul 06. An amount of $243,931 was transacted.
Valuation Metrics
Gamestop Corporation (GME) stock’s beta is -0.09. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.86, the price-to-book (PB) ratio at 3.96, and the price-to-cash flow ratio at 20.30.
Financial Health
The quick ratio of Gamestop Corporation for the three months ended July 30 was 1.24, and the current ratio was 1.87, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.34 and a total debt to equity ratio of 0.50 for the quarter ending July 30. Its gross profit as reported stood at $1.37 billion compared to revenue of $5.93 billion.
Earnings Surprise
For the three-month period that ended July 30, Gamestop Corporation had $23.6 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$2.8 million in the quarter, while revenues were shrunk -3782.14%. The analyst consensus anticipated Gamestop Corporation’s latest quarter earnings to come in at -$0.14 per share, but it turned out to be -$0.03, a 78.60% surprise. For the quarter, EBITDA amounted to -$4.0 million. Shareholders own equity worth $305.24 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Gamestop Corporation (GME) price momentum. RSI 9-day as of the close on 29 September was 35.28%, suggesting the stock is Neutral, with historical volatility in this time frame at 37.94%.
As of today, GME’s price is $16.98 -4.19% or -$0.72 from its 5-day moving average. GME is currently trading -11.27% lower than its 20-day SMA and -19.75% lower than its 100-day SMA. However, the stock’s current price level is -28.15% below the SMA50 and -27.39% below the SMA200.
The stochastic %K and %D were 15.55% and 17.93%, respectively, and the average true range (ATR) was 0.88. With the 14-day stochastic at 2.71% and the average true range at 0.88, the RSI (14) stands at 37.07%. The stock has reached -0.31 on the 9-day MACD Oscillator while the 14-day reading was at -0.56.
Analyst Ratings
Wedbush reiterated its an Underperform rating on Gamestop Corporation (NYSE: GME), but raised their price target to $6.50, indicating a potential price decrease of -153.23% for the stock. The consensus rating for Gamestop Corporation (GME) among analysts is Underweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell GME, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is GME’s price target for the next 12 months?
Analysts predict a range of price targets between $6.00 and $20.00, with a median target of $18.75. Taking a look at these predictions, the average price target given by analysts for Gamestop Corporation (GME) stock is $14.92.
