Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV) shares fell to a low of $4.34 before closing at $4.43. Intraday shares traded counted 2.57 million, which was 89.18% higher than its 30-day average trading volume of 23.78M. HOFV’s previous close was $4.44 while the outstanding shares total 75.35M. The stock’s Relative Strength Index (RSI) is 58.66, with weekly volatility at 6.06% and ATR at 0.30. The HOFV stock’s 52-week price range has touched low of $1.09 and a $12.31 high. The stock traded lower over the last trading session, losing -0.23% on 06/18/21.
Investors have identified the Entertainment company Hall of Fame Resort & Entertainment Company as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $418.59 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Hall of Fame Resort & Entertainment Company (HOFV) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. For HOFV, the company has in raw cash 68.55 million on their books with 1.92 million currently as liabilities. How the trend is over time is what investors should be concerned about. The company has a healthy balance sheet as their debt profile has been on an incline. In terms of their assets, the company currently has 81.38 million total, with 200.04 million as their total liabilities.
HOFV were able to record -24.52 million as free cash flow during the 08/16/2021 quarter of the year, this saw their quarterly net cash flow reduce by 28.5 million. In cash movements, the company had a total of -7.86 million as operating cash flow.
Potential earnings growth for Hall of Fame Resort & Entertainment Company (HOFV)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/16/2021 quarter of the year, Hall of Fame Resort & Entertainment Company recorded a total of 1.92 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -2.56% coming in sequential stages and their sales for the 08/16/2021 quarter reducing by -80.63%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 6.01 million trying to sell their products during the last quarter, with the result yielding a gross income of -4.09 million. This allows shareholders to hold on to 75.35M with the recently reported earning now reading -1.67 cents per share. This is a figure that compared to analyst’s prediction for their 08/16/2021.
Is the stock of HOFV attractive?
In related news, President and CEO, Crawford Michael Anthony bought 25,000 shares of the company’s stock in a transaction that recorded on May 18. The purchase was performed at an average price of 3.38, for a total value of 84,500. As the purchase deal closes, the Director, Dennis David now bought 17,000 shares of the company’s stock, valued at 41,650. Also, Director, Buzzelli Anthony J. bought 10,000 shares of the company’s stock in a deal that was recorded on Feb 12. The shares were cost at an average price of 2.45 per share, with a total market value of 24,500. Following this completion of disposal, the President and CEO, Crawford Michael Anthony now holds 40,000 shares of the company’s stock, valued at 98,000. In the last 6 months, insiders have changed their ownership in shares of company stock by 4.60%.
1 out of 1 analysts covering the stock have rated it a Buy, while 0 have maintained a Hold recommendation on Hall of Fame Resort & Entertainment Company. 0 analysts has assigned a Sell rating on the HOFV stock. The 12-month mean consensus price target for the company’s shares has been set at $5.00.