Reviewing The Case For Gamestop Corporation (GME) Going Higher

Currently, there are 304.60M common shares owned by the public and among those 266.26M shares have been available to trade.

Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 535,871 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 150,817 shares.

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However, the script later moved the day high at 18.43, up 3.48%. The company’s stock has a 5-day price change of 18.51% and 1.94% over the past three months. GME shares are trading -3.25% year to date (YTD), with the 12-month market performance down to -13.22% lower. It has a 12-month low price of $11.82 and touched a high of $27.65 over the same period. GME has an average intraday trading volume of 5.91 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 21.21%, 26.23%, and -6.58% respectively.

Institutional ownership of Gamestop Corporation (NYSE: GME) shares accounts for 28.58% of the company’s 304.60M shares outstanding.

It has a market capitalization of $5.46B and a beta (3y monthly) value of -0.48. The earnings-per-share (ttm) stands at -$0.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.42% over the week and 8.60% over the month.

Earnings per share for the fiscal year are expected to increase by 110.78%, and 27.27% over the next financial year.

Looking at the support for the GME, a number of firms have released research notes about the stock. Wedbush stated their Underperform rating for the stock in a research note on June 08, 2023, with the firm’s price target at $6.50-$6.20.

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