Take A Look At This Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) Analysis Before Investing

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Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV) price closed lower on Tuesday, December 28, dropping -5.49% below its previous close.

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A look at the daily price movement shows that the last close reads $1.64, with intraday deals fluctuated between $1.53 and $1.66. Taking into account the 52-week price action we note that the stock hit a 52-week high of $7.64 and 52-week low of $1.22. The stock subtracted -22.50% on its value in the past month.

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Hall of Fame Resort & Entertainment Company, which has a market valuation of $144.63 million, is expected to release its quarterly earnings report May 14, 2021. Analysts tracking HOFV have forecast the quarterly EPS to shrink by -0.11 per share this quarter, while the same analysts predict the annual EPS to hit -$1.39 for the year 2021 and up to -$0.3 for 2022. In this case, analysts estimate an annual EPS growth of 48.10% for the year and 78.40% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $4 million, with the likely lows of $4 million and highs of $4 million. Staying with the analyst view, there is a consensus estimate of $16 million for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 125.40% above that which the company brought in 2021.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give HOFV a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 1 analysts have assigned HOFV a recommendation rating as follows: 0 rate it as a Hold; 1 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Hall of Fame Resort & Entertainment Company (HOFV) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

The overview shows that HOFV’s price is at present -15.94% off the SMA20 and -26.61% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 33.30, with weekly volatility standing at 7.66%. The indicator jumps to 8.08% when calculated based on the past 30 days. Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV)’s beta value is holding at 0.07, while the average true range (ATR) indicator is currently reading 0.15. Considering analysts have assigned the stock a price target range of $5.00-$5.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $5.00. Based on this estimate, we see that current price is roughly -222.58% off the estimated low and -222.58% off the forecast high. Investors will no doubt be excited to see the share price fall to $5.00, which is the median consensus price, and at that level HOFV would be -222.58% from current price.

An analysis of the Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV) stock in terms of its daily trading volume indicates that the 3-month average is 1.37 million.

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Current records show that the company has 95.04M in outstanding shares. The insiders’ percentage holdings are 4.20% of outstanding shares while the percentage share held by institutions stands at 17.60%. But the 26.02% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.