Investors Getting Picky When It Comes To Buying Melco Resorts & Entertainment Ltd ADR (MLCO)

Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) does about 3.67M shares in volume on a normal day but saw 3388777 shares change hands in Monday’s trading. The company now has a market cap of 3.62B USD. Its current market price is $8.28, marking an increase of 5.48% compared to the previous close of $7.85. The 52 week high reached by this stock is $13.91 whilst the lowest price level in 52 weeks is $6.10.

Melco Resorts & Entertainment Ltd ADR (MLCO) has a 20-day trading average at $6.90 and the current price is -40.47% off the 52-week high compared with 35.69% distance from its 52-week low. The 50-day simple moving average of the closing price is $7.10 and its 200-day simple moving average is $8.59. If we look at the stock’s price movements over the week, volatility stands at 4.81%, which decreases to 4.42% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 73.16 to suggest the stock is overbought.

The consensus objective for the share price is $10.21, suggesting that the stock has a potential upside of 18.9% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on May 06, 2024 when Morgan Stanley upgraded the stock to “Overweight” and issued a price target of between $8.30 and $9.60. Susquehanna initiated its price target at $15.

Melco Resorts & Entertainment Ltd ADR (MLCO) stock is up 12.35% over the week and 19.14% over the past month. Its price is -6.65% year-to-date and -28.44% over the past year.

To reach the target analysts have set, the stock logically needs to grow 18.9 percent from here.

The company has a return on investment of -2.89%. The forward price to earnings ratio is 12.58. The beta has a value of 1.07. Price to sales ratio is 0.87.