In yesterday’s Wall Street session, ContextLogic Inc. (NASDAQ:WISH) shares traded at $7.94, down -7.67% from the previous session.
5 analysts cover ContextLogic Inc. (NASDAQ:WISH), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $9.00 and a low of $6.00, we find $7.40. Given the previous closing price of $8.60, this indicates a potential downside of -13.95 percent. WISH stock price is now 2.64% away from the 50-day moving average and -43.65% away from the 200-day moving average. The market capitalization of the company currently stands at $168.73M.
The stock has received a hold rating from 2 analysts and a buy rating from 1. Brokers who have rated the stock have averaged $7.45 as their price target over the next twelve months.
With the price target reduced from $7 to $6, Loop Capital Downgraded its rating from Hold to Sell for ContextLogic Inc. (NASDAQ: WISH).
In other news, Liu Ying Vivian, CFO and COO sold 340,000 shares of the company’s stock on Mar 08. The stock was sold for $156,400 at an average price of $0.46. Upon completion of the transaction, the CFO and COO now directly owns 793,423 shares in the company, valued at $6.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 08, Head of Data Science Wang Shuyan (Rachel) sold 20,337 shares of the business’s stock. A total of $9,721 was realized by selling the stock at an average price of $0.48. Insiders disposed of 37,408,939 shares of company stock worth roughly $297.03 million over the past 1 year. A total of 4.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WISH stock. A new stake in ContextLogic Inc. shares was purchased by MITSUBISHI UFJ TRUST & BANKING CORP during the first quarter worth $163,000. LEVIN CAPITAL STRATEGIES, L.P. invested $119,000 in shares of WISH during the first quarter. In the first quarter, APOLETTO LTD acquired a new stake in ContextLogic Inc. valued at approximately $82,000. PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO acquired a new stake in WISH for approximately $61,000. STRS OHIO purchased a new stake in WISH valued at around $35,000 in the second quarter.
On Wednesday morning ContextLogic Inc. (NASDAQ: WISH) stock kicked off with the opening price of $8.42. During the past 12 months, ContextLogic Inc. has had a low of $6.36 and a high of $57.60. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 2.50, and a quick ratio of 2.50. The fifty day moving average price for WISH is $7.74 and a two-hundred day moving average price translates $14.02 for the stock.
According to the Internet Retail Company, earnings per share came in at -$3.83, missing analysts’ expectations of -$3.8 by -0.03. This compares to -$2.72 EPS in the same period last year. The net profit margin was -86.40% and return on equity was -77.10% for WISH. The company reported revenue of $96.0 million for the quarter, compared to $189.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -49.21 percent. For the current quarter, analysts expect WISH to generate $94.25M in revenue.
