Take A Look At Insider Trading For ContextLogic Inc. (WISH)

The stock of ContextLogic Inc. (NASDAQ:WISH) decreased by decreased by -$0.62 on Friday to finish at $5.20, down -10.65 percent. The last five days have seen an average of 57,033,340 shares of common stock traded. The average number of shares traded over the last 20 days was 37,815,895, while the average volume over the last 50 days totaled 41,378,055.

WISH stock dropped -15.24% since last month. On 10/06/21, the company’s shares reached a one-month low of $4.61. The stock touched a high of $32.85, after rallying from a low of $4.61 in 52 weeks. The price of WISH stock has declined by -71.49% or -$13.04 this year, reaching a new high 9 times. Still, the stock price is down -84.17% from the 52-week high.

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Insider Transactions

There have been 7 days since ContextLogic Inc. (WISH) last reported insider trading activity on Oct 18. On Oct 18, Founder and CEO Szulczewski Piotr sold 73,904 shares at $5.00 each. This transaction resulted in the insider making $369,520. On Oct 18, Oliver Jennifer sold 417 shares at a price of US$5.00. After the transaction, the insider now owns 19,430 shares. General Counsel and Secretary Shah Devang had earlier sold 10,333 shares on Oct 18 for $5.00 a share. The transaction was completed for $51,665.

For the three months ended June 29, ContextLogic Inc.’s quick ratio was 2.00, while its current ratio was 2.00, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 57.90% percent. Based on annual data, it had gross profit of $1.59 billion and revenue of $2.54 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. There was a -61.60% return on investment (ROI) in the past year.

Earnings Surprise

According to ContextLogic Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $656.0 million, while revenues rose by 100.0% to $2.54 billion. It was predicted that ContextLogic Inc.’s quarterly earnings would be -$0.18, but it ended up being -$0.14, beating the consensus by -28.60%. EBITDA was -$111.0 million for the quarter. At the end of ContextLogic Inc.’s most recent quarter ended June 29, its liabilities totaled 889.0 million, while its total debt was $48.0 million. Equity owned by shareholders amounts to $628.0 million.

Technical Picture

Here’s a quick look at ContextLogic Inc.’s (WISH) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 44.75%, suggesting the stock is Neutral, with a 103.07% historical volatility rate.

The stochastic %K and %D were 64.31% and 67.52% respectively, while the average true range (ATR) was 0.43. Based on the 14-day stochastic reading of 34.71%, the RSI (14) reading is 42.95%. On the 9-day MACD Oscillator, the stock is at 0.38, and the 14-day reading is at 0.51.

Analyst Ratings

ContextLogic Inc. (NASDAQ: WISH) was downgraded by Oppenheimer to a an Underperform rating in its latest research report. The stock was previously rated as a a Perform. Analysts have assigned ContextLogic Inc. (WISH) an Hold rating. WISH is a stock that is recommended for selling by 2 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.

What is WISH’s price target for the next 12 months?

The current consensus forecast for the stock is between $5.00 and $19.00, with a median target price of $8.75. In analyzing these forecasts, the average price target given by analysts for ContextLogic Inc. (WISH) is $9.94.


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