Can Market Sentiment Sustain GME's Price Surge Today?

GameStop surged to $22.83 per share this afternoon, but it remains 72.29% above its mean target price of $13.25. There may still be room for more downwards movement — even after today's 3.8% drop. Analysts are giving the large-cap None stock on average rating of underperform, with target prices ranging from $6.5 to $20.0 per share.

GameStop has an elevated short interest of 21.6%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 19.77. Since 15.54% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. GameStop's rate of institutional ownership is 28.2%, which indicates a decent level of confidence in the stock. Based on these factors, Market Inference considers GameStop to be the target of None.

Institutions Invested in GameStop

Date Reported Holder Percentage Shares Value
2023-03-31 Vanguard Group, Inc. (The) 8% 25,067,747 $572,266,587
2023-03-31 Blackrock Inc. 7% 22,123,259 $505,047,459
2023-03-31 State Street Corporation 2% 7,565,856 $172,719,414
2023-03-31 Geode Capital Management, LLC 1% 3,617,565 $82,584,668
2023-03-31 Bank Of New York Mellon Corporation 1% 2,176,594 $49,689,029
2023-03-31 Charles Schwab Investment Management, Inc. 1% 2,051,190 $46,826,206
2023-03-31 Northern Trust Corporation 1% 1,919,292 $43,815,133
2023-03-31 Coatue Management LLC 0% 1,217,228 $27,787,854
2023-03-31 Van Eck Associates Corporation 0% 1,169,758 $26,704,171
2022-12-31 Norges Bank Investment Management 0% 1,056,783 $24,125,087
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.