What's Going On With GameStop Shares Today?

GameStop Corporation GME saw a slight drop in its share price on Thursday. Here’s what you need to know.

What To Know: Institutional investors have largely taken a bearish stance on GME, with 21 uncommon options trades. Out of these trades, 90% were bearish, including 9 put options totaling $416,979 and 12 call options amounting to $476,016.

This sentiment mirrors recent activity in AMC Entertainment Inc. AMC, where a boost in the stock price followed Imax Corp's upbeat earnings. Both GME and AMC have seen significant options trading.

GameStop’s price targets range from $10 to $125, while AMC’s stock has benefited from Imax’s strong performance and a bullish outlook on movie-going.

Will GameStop Shares Go Up?

When trying to assess whether or not GameStop Corporation GME will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $9 on GameStop. The Street high target is currently at $11 and the Street low target is $7. Of all the analysts covering GameStop, no one has positive ratings, no one has neutral ratings and two have negative ratings.

In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering GameStop have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. GameStop is 8.82% up year-to-date. The average analyst price target suggests the stock could have further downside ahead.

For a broad overview of everything you need to know about GameStop, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

GME Price Action: GameStop finished 0.25% lower at $23.95 on Thursday, according to Benzinga Pro.

See Also:

• What’s Going On With AMC Entertainment Stock On Thursday?

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