Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) stock jumped 13.49% on Friday to $0.86 against a previous-day closing price of $0.76. With 1.32 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.94 million shares. During the session, the Entertainment company that operates in wider Communication Services sector, reached to the highest price of $0.8749 whereas the lowest price it dropped to was $0.7722. The 52-week range on HOFV shows that it touched its highest point at $3.54 and its lowest point at $0.52 during that stretch. It currently has a 1-year price target of $3.00. Beta for the stock currently stands at 0.56.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HOFV was up-trending over the past week, with a rise of 15.37%, but this was up by 44.57% over a month. Three-month performance surged to 2.02% while six-month performance fell -19.27%. The stock lost -70.32% in the past year, while it has lost -43.17% so far this year. A look at the trailing 12-month EPS for HOFV yields 0.24 with Next year EPS estimates of -0.27. For the next quarter, that number is -0.11. This implies an EPS growth rate of 39.60% for this year and 16.70% for next year.
Float and Shares Shorts:
At present, 104.31 million HOFV shares are outstanding with a float of 72.61 million shares on hand for trading. On Apr 28, 2022, short shares totaled 8.71 million, which was 7.79% higher than short shares on Mar 30, 2022. In addition to Mr. Michael Anthony Crawford as the firm’s Chairman, Pres & CEO, Ms. Tara Charnes serves as its Gen. Counsel & Sec.
Institutional Ownership:
Through their ownership of 15.32% of HOFV’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.91% of HOFV, in contrast to 34.47% held by mutual funds. Shares owned by individuals account for 3.65%. As the largest shareholder in HOFV with 3.06% of the stake, BlackRock Fund Advisors holds 3,444,007 shares worth 3,444,007. A second-largest stockholder of HOFV, The Vanguard Group, Inc., holds 2,423,005 shares, controlling over 2.15% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in HOFV, holding 1,586,500 shares or 1.41% stake. With a 1.36% stake in HOFV, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,530,218 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.73% of HOFV stock, is the second-largest Mutual Fund holder. It holds 817,409 shares valued at 0.48 million. Fidelity Small Cap Index Fund holds 0.31% of the stake in HOFV, owning 346,541 shares worth 0.21 million.
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Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HOFV since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With HOFV analysts setting a high price target of $3.00 and a low target of $3.00, the average target price over the next 12 months is $3.00. Based on these targets, HOFV could surge 248.84% to reach the target high and rise by 248.84% to reach the target low. Reaching the average price target will result in a growth of 248.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. HOFV will report FY 2022 earnings on 03/08/2023. Analysts have provided yearly estimates in a range of -$0.30 being high and -$0.30 being low. For HOFV, this leads to a yearly average estimate of -$0.30. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Hall of Fame Resort & Entertainment Company surprised analysts by $0.06 when it reported -$0.08 EPS against a consensus estimate of -$0.14. The surprise factor in the prior quarter was $0.21. Based on analyst estimates, the high estimate for the next quarter is -$0.11 and the low estimate is -$0.11. The average estimate for the next quarter is thus -$0.11.
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Summary of Insider Activity:
Insiders traded HOFV stock several times over the past three months with 8 Buys and 3 Sells. In these transactions, 525,241 shares were bought while 94,182 shares were sold. The number of buy transactions has increased to 53 while that of sell transactions has risen to 32 over the past year. The total number of shares bought during that period was 2,496,776 while 683,704 shares were sold.
