GameStop (NYSE:GME) had its target price trimmed by Bank of America from $4.00 to $2.50 in a report published on Tuesday morning, The Fly reports. They currently have an underperform rating on the stock.
Several other equities research analysts have also commented on the company. Wedbush set a $9.00 target price on GameStop and gave the company a buy rating in a research report on Thursday, July 11th. Benchmark restated a sell rating and set a $5.00 target price (down previously from $9.00) on shares of GameStop in a research report on Wednesday, June 5th. Loop Capital set a $7.00 target price on GameStop and gave the company a hold rating in a research report on Monday, July 15th. ValuEngine upgraded GameStop from a sell rating to a hold rating in a research report on Sunday, June 9th. Finally, Ascendiant Capital Markets lowered GameStop from a buy rating to a hold rating and set a $4.00 target price on the stock. in a research report on Wednesday, June 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $8.95.
NYSE GME opened at $3.87 on Tuesday. The business’s 50-day moving average price is $4.15 and its two-hundred day moving average price is $7.80. GameStop has a 12 month low of $3.15 and a 12 month high of $17.21. The firm has a market capitalization of $349.76 million, a PE ratio of 1.53 and a beta of 0.38. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79.
A number of hedge funds have recently bought and sold shares of GME. Norges Bank bought a new stake in GameStop during the fourth quarter worth approximately $20,351,000. Nisa Investment Advisors LLC boosted its position in GameStop by 21.2% during the first quarter. Nisa Investment Advisors LLC now owns 74,750 shares of the company’s stock worth $759,000 after purchasing an additional 13,050 shares during the period. Investors Research Corp bought a new stake in GameStop during the first quarter worth approximately $55,000. James Investment Research Inc. bought a new stake in GameStop during the first quarter worth approximately $619,000. Finally, World Asset Management Inc bought a new stake in GameStop during the first quarter worth approximately $173,000. 98.68% of the stock is currently owned by institutional investors and hedge funds.
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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