Gamestop Corporation (NYSE:GME) shares, rose in value, with the stock price up by 1.32% to the previous day’s close as strong demand from buyers drove the stock to $11.53.
Actively observing the price movement in the last trading, the stock closed the session at $11.38. The value of beta (5-year monthly) was -0.38 whereas the PE ratio was 543.87 over 12-month period. Referring to stock’s 52-week performance, its high was $27.65, and the low was $10.90. On the whole, GME has fluctuated by -23.13% over the past month.
With the market capitalization of Gamestop Corporation currently standing at about $3.53 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 19, 2024 – Mar 25, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.09, which is expected to increase to -$0.02 for fiscal year $0.01 and then to about $0.06 by fiscal year 2026. Data indicates that the EPS growth is expected to be -83.30% in 2026, while the next year’s EPS growth is forecast to be 500.00%.
Analysts have estimated the company’s revenue for the quarter at $1.05 billion, with a low estimate of $1 billion and a high estimate of $1.09 billion. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $4.79 billion, representing a decrease of -9.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that GME’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GME currently trading nearly -16.62% and -18.15% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 35.31, while the 7-day volatility ratio is showing 6.28% which for the 30-day chart, stands at 5.73%. Furthermore, Gamestop Corporation (GME)’s beta value is -0.30, and its average true range (ATR) is 0.85.
A comparison of Gamestop Corporation (GME) with its peers suggests the former has fared considerably weaker in the market. GME showed an intraday change of 1.32% in last session, and over the past year, it shrunk by -50.24%%.
Data on historical trading for Gamestop Corporation (NYSE:GME) indicates that the trading volumes over the past 10 days have averaged 8.56 million and over the past 3 months, they’ve averaged 3.82 million. According to company’s latest data on outstanding shares, there are 305.70 million shares outstanding.
Nearly 12.84% of Gamestop Corporation’s shares belong to company insiders and institutional investors own 29.33% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 59.55 million shares as on Mar 15, 2024, resulting in a short ratio of 20.69. According to the data, the short interest in Gamestop Corporation (GME) stood at 19.48% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 60.19 million. The stock has fallen by -34.23% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GME stock heading into the next quarter.
