The stock of Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) is now priced at $17.54 and the shares are 2.47 points up or 16.39% higher compared to its previous closing price of $15.07. The stock had 14.77 million contracts set over the past session. PLAY shares’ daily volume is compared to its average trading volume at 8.718 million shares. However, it has a float of 43.13 million and although its performance was 29.83% over the week, it’s one to watch. Analysts have given the PLAY stock a yearly average price target of $16.6 per share. It means the stock’s downside potential is -5.36% with the PLAY share price recently placing at $15.02 to $17.59. However, some brokerage firms have priced the stock below the average, including one that has called $12.
The shorts are running away from the Dave & Buster’s Entertainment, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the PLAY shares have declined. Short interest in the stock represents just 36.34% of its float, but the volume has dropped by -1255958. The volume of shorted shares dropped to 15.674 million from 16.93 million shares over the last two weeks. The average intraday trading volume has been 5.59 million shares, which means that days to cover moved to roughly 2.80395.
In the last trading session, Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) raised by $4.03 over the week and gained $5.2 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $48.8. The stock recorded its established 52-week high on 01/17/20.
Since 03/18/20, the stock has traded to a low of $4.61 at 280.89%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.61. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Dave & Buster’s Entertainment, Inc.’s two-week RSI is 69.51. This suggests that the stock is neutral at the moment and that PLAY shares’ price movement remains stable. The stochastic readings are equally revealing at 60.08% meaning the PLAY share price is currently in neutral territory.
The technical chart shows that the PLAY stock will likely settle at between $18.41 and $19.29 per share. However, if the stock dips below $15.84, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $14.15.
Currently, the stock is trading in the green of MACD, with a reading of 1. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at SunTrust raised their recommendation for PLAY from Hold to Buy in June 12 review. BMO Capital Markets analysts downgraded their recommendation of the stock from Outperform to Market Perform while keeping its target price at $53 to $13 in a flash note released to investors on April 03. Piper Sandler seeing the stock struggling downgraded it from Overweight to Neutral on March 17 placing it at $44 to $7.
The average rating for the PLAY equity is 2.83 and is currently gathering a bullish momentum. Of 12 analysts tracking Dave & Buster’s Entertainment, Inc. polled by Reuters, 10 rated PLAY as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PLAY stock price is 61.11X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 39.9 below the group’s average of 48.8.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) will decrease by about -99.95%, which will see them reach $84.42 million. The company’s full-year revenues are, however, expected to diminish by about -49.72%, down from $1350 million to $679 million. PLAY’s expected adjusted earnings should drop almost -256.67% to end up at -$1.41 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -218.37% to record -$3.48/share.