ContextLogic Inc (NASDAQ: WISH) stock jumped 5.50% on Friday to $4.99 against a previous-day closing price of $4.73. With 0.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.68 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $5.0600 whereas the lowest price it dropped to was $4.6601. The 52-week range on WISH shows that it touched its highest point at $32.10 and its lowest point at $3.55 during that stretch. It currently has a 1-year price target of $4.80. Beta for the stock currently stands at 1.84.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WISH was down-trending over the past week, with a drop of -0.60%, but this was up by 26.65% over a month. Three-month performance dropped to -0.40% while six-month performance fell -36.84%. The stock lost -77.70% in the past year, while it has lost -65.89% so far this year. A look at the trailing 12-month EPS for WISH yields -15.36 with Next year EPS estimates of -6.89. For the next quarter, that number is -2.61. This implies an EPS growth rate of 17.30% for this year and 39.63% for next year. EPS is expected to grow by 4.40% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -6.31%.
Float and Shares Shorts:
At present, 24.01 million WISH shares are outstanding with a float of 20.20 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.43 million, which was 14.28% higher than short shares on Sep 28, 2023. In addition to Mr. Jun Yan as the firm’s CEO & Director, Ms. Ying Liu serves as its CFO & COO.
Institutional Ownership:
Through their ownership of 40.91% of WISH’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 18.10% of WISH, in contrast to 15.23% held by mutual funds. Shares owned by individuals account for 0.52%. As the largest shareholder in WISH with 5.64% of the stake, BlackRock Fund Advisors holds 1,340,718 shares worth 1,340,718. A second-largest stockholder of WISH, The Vanguard Group, Inc., holds 1,071,125 shares, controlling over 4.50% of the firm’s shares. Cannell Capital LLC is the third largest shareholder in WISH, holding 881,820 shares or 3.71% stake. With a 2.60% stake in WISH, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 619,250 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.25% of WISH stock, is the second-largest Mutual Fund holder. It holds 534,253 shares valued at 2.09 million. Schwab Fundamental US Small Compa holds 1.70% of the stake in WISH, owning 403,158 shares worth 1.58 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WISH since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With WISH analysts setting a high price target of $5.50 and a low target of $4.00, the average target price over the next 12 months is $4.80. Based on these targets, WISH could surge 10.22% to reach the target high and fall by -19.84% to reach the target low. Reaching the average price target will result in a decline of -3.81% from current levels.
Summary of Insider Activity:
Insiders traded WISH stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 1,253,521 while 1,834,548 shares were sold.
