Hasbro Stock Flat After Mixed Quarterly Report

Shares of the toymaker have shed 22% this year

Digital Content Manager
Jul 19, 2022 at 9:54 AM
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Hasbro, Inc. (NASDAQ:HAS) just stepped into the earnings confessional with earnings of $1.15 per share for its second quarter, easily beating consensus estimates of 21 cents per share. The toy and game maker cited strong demand for its "Magic: The Gathering" trading cards and a rise in prices. However, the firm's revenue just missed estimates, and HAS added that it's taking continual cost cutting measures as it prepares for the holiday season. The security is relatively unchanged in response, last seen down 0.8% at $78.98.

The past few weeks have been rough for Hasbro stock, with the 40-day moving average keeping a tight lid on shares. The stock reacted poorly to last week's bull note for its top competitor Mattel (MAT), and later that week HAS hit an almost two-year low of $77.78. The security saw a slight rally off this bottom during yesterday's session, but it still suffers a 22% year-to-date deficit. 

It's worth noting, however, that a short-term bounce could be right on the horizon. This is because HAS sits firmly in "oversold" territory with a 14-day Relative Strength Index (RSI) of 27. 

The recent negative price action has short-term options traders piling on their bearish bets. The stock's Schaeffer's put/call volume ratio (SOIR) of 2.18 sits higher than 78% of readings from the past year. In other words, these traders have rarely been more put-biased. 

Echoing this, the equity's 10-day put/call volume ratio of 2.02 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits in the 83rd percentile of its 12-month range. This means puts volume has doubled that of calls during the past two weeks, and at a much quicker clip than usual. 

 

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