Golden Entertainment, Inc. (NASDAQ:GDEN) is 0.81 points higher today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has climbed by nearly 12.5% to $7.29 from its previous close of $6.48. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 859144 contracts so far this session. GDEN shares had a relatively better volume day versus average trading capacity of 165.95 thousand shares, but with a 17.95 million float and a 12.7% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GDEN stock indicates that the average analyst price target is $21.75 per share. This means the stock has a potential increase of 198.35% from where the GDEN share price has been trading recently.
During the recent trading session for Golden Entertainment, Inc. (NASDAQ:GDEN), the company witnessed their stock rise $2.72 over a week and tumble down $-10.19 from the price 20 days ago. When compared to their established 52-week high of $21.67, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/19/20. The recent low of $3.55 stood for a -66.36% since 03/23/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.28 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Golden Entertainment, Inc., the two-week RSI stands at 37.54. This figure suggests that GDEN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current GDEN readings is similarly very revealing as it has a stochastic reading of 24.31% at this stage. This figure means that GDEN share price today is being overbought.
Technical chart claims that Golden Entertainment, Inc. (GDEN) would settle between $7.36/share to $8.23/share level. However, if the stock price goes below the $5.2 mark, then the market for Golden Entertainment, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $3.91 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.36. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JP Morgan lowered their recommendation on shares of GDEN from Overweight to Neutral in their opinion released on March 02. JP Morgan, analysts launched coverage of Golden Entertainment, Inc. (NASDAQ:GDEN) stock with a Overweight recommendation, according to their flash note issued to investors on October 23. Analysts at Telsey Advisory Group are sticking to their Outperform stance. However, on November 12, they lifted price target for these shares to $24 from $36.
GDEN equity has an average rating of 1.8, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated Golden Entertainment, Inc. (NASDAQ:GDEN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, GDEN stock price is currently trading at 82.03X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 14.7. Golden Entertainment, Inc. current P/B ratio of 0.6 means it is trading at a discount against its industry’s 2.3.
Golden Entertainment, Inc. (GDEN)’s current-quarter revenues are projected to climb by nearly -2.5% to hit $233950, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -2.7% from $973410 to a noteworthy $947020. At the other end of the current quarter income statement, Golden Entertainment, Inc. is expected to see its adjusted earnings surge by roughly 13.8% to hit $-0.25 per share. For the fiscal year, GDEN’s earnings are projected to climb by roughly 27.3% to hit $-1.04 per share.