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Is a Correction Looming Ahead for Melco Resorts & Entertainment Limited (MLCO)

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) went down by -2.60% from its latest closing price compared to the recent 1-year high of $14.15. The company’s stock price has collected 0.15% of gains in the last five trading sessions. Barron’s reported on 11/28/22 that Wynn, Casino Stocks Rise on Macau License Renewals. One Risk Down, One to Go.

Is It Worth Investing in Melco Resorts & Entertainment Limited (NASDAQ :MLCO) Right Now?

Plus, the 36-month beta value for MLCO is at 1.13. Opinions of the stock are interesting as 7 analysts out of 11 who provided ratings for Melco Resorts & Entertainment Limited declared the stock was a “buy,” while 0 rated the stock as “overweight,” 4 rated it as “hold,” and 0 as “sell.”

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MLCO currently public float of 440.64M and currently shorts hold a 2.59% ratio of that float. Today, the average trading volume of MLCO was 5.74M shares.

MLCO’s Market Performance

MLCO stocks went up by 0.15% for the week, with a monthly jump of 14.61% and a quarterly performance of 111.97%, while its annual performance rate touched 17.38%. The volatility ratio for the week stands at 4.19% while the volatility levels for the past 30 days are set at 4.91% for Melco Resorts & Entertainment Limited. The simple moving average for the period of the last 20 days is 3.29% for MLCO stocks with a simple moving average of 88.67% for the last 200 days.

Analysts’ Opinion of MLCO

Many brokerage firms have already submitted their reports for MLCO stocks, with JP Morgan repeating the rating for MLCO by listing it as a “Overweight.” The predicted price for MLCO in the upcoming period, according to JP Morgan is $10 based on the research report published on November 28th of the previous year 2022.

MLCO Trading at 24.80% from the 50-Day Moving Average

After a stumble in the market that brought MLCO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.39% of loss for the given period.

Volatility was left at 4.91%, however, over the last 30 days, the volatility rate increased by 4.19%, as shares surge +14.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +116.53% upper at present.

During the last 5 trading sessions, MLCO rose by +0.15%, which changed the moving average for the period of 200-days by +77.03% in comparison to the 20-day moving average, which settled at $12.77. In addition, Melco Resorts & Entertainment Limited saw 13.91% in overturn over a single year, with a tendency to cut further gains.

Stock Fundamentals for MLCO

Current profitability levels for the company are sitting at:

  • -26.97 for the present operating margin
  • -1.81 for the gross margin

The net margin for Melco Resorts & Entertainment Limited stands at -40.34. Equity return is now at value 517.30, with -9.40 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.83.

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