Sunday, June 26, 2022

Taking a Closer Look At Redbox Entertainment Inc. (RDBX) Following Its Recent Trade

B. Riley Securities downgraded its Redbox Entertainment Inc. [RDBX] rating to a Neutral from a a Buy in a research note published on Tuesday, May 27, 2022; the price target was decreased to $1 from $3. PT values the company’s stock at a premium of -1060.0 to its Tuesday closing price. A number of analysts have revised their coverage, including Wedbush’s analysts, who began to cover the stock in late November with a ‘”an Outperform”‘ rating. BTIG Research began covering RDBX with a “Buy” recommendation on November 22, 2021. Canaccord Genuity started covering the stock on November 05, 2021. It rated RDBX as “a Buy”.


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Price Performance Review of RDBX

On Tuesday, Redbox Entertainment Inc. [NASDAQ:RDBX] saw its stock fall -3.41% to $11.60. On the same session, the stock had its day’s lowest price of $11.00, but rose to a high of $12.35. Over the last five days, the stock has lost -24.03%. Redbox Entertainment Inc. shares have risen nearly 56.55% since the year began. Nevertheless, the stocks have risen 16.47% over the past one year. While a 52-week high of $27.22 was reached on 06/13/22, a 52-week low of $1.61 was recorded on 02/24/22. SMA at 50 days reached $5.90, while 200 days put it at $7.14. A total of 10.23 million shares were traded, compared to the trading of 22.39 million shares in the previous session.

Levels Of Support And Resistance For RDBX Stock

The 24-hour chart illustrates a support level at 10.95, which if violated will result in even more drops to 10.30. On the upside, there is a resistance level at 12.30. A further resistance level may holdings at 13.00. The Relative Strength Index (RSI) on the 14-day chart is 60.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.90, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 50.08%. Stochastics %K at 52.00% indicates the stock is a holding.

Redbox Entertainment Inc. [RDBX] – Who Are The Largest Shareholders?

In filings from Standard General LP, it is revealed that the company now owns 979,771 shares, or roughly 7.77% of the outstanding RDBX shares. In other words, the investor’s shares have fallen by 0 from its previous 13-F filing of 979771.0. Additionally, The Vanguard Group, Inc. decreased -25.72% of its stake after which the total value it holdings stand at $2,811,729, while Black Maple Capital Management LP reduced 0.00% of its stake to hold $1.26 million in the firm. Over the last quarter, Geode Capital Management LLC purchased 86,417 shares of Redbox Entertainment Inc., while Millennium Management LLC bought 119,305 shares. At present, B. Riley Asset Management LLC is holding 81,008 shares valued at $0.54 million. Bridgeway Capital Management LLC owned 70,000 shares of the company at the time of its most recent 13F filing, worth $0.47 million.

According to FactSet, Redbox Entertainment Inc.’s share price will average $0.75 in the next year, based on opinions of analysts polled by the firm. This is down nearly -93.76 percent from its previous closing price of $12.01. Analysts expect Redbox Entertainment Inc. stock to reach the higher price of $1.00, while the lowest price estimate is $0.50. However, 3 analysts have rated RDBX stock as an Underweight in their predictions for 2022.

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