ContextLogic Inc. (WISH): Here Are Some Research Recommendations

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RTX Stock
RTX Stock

ContextLogic Inc. (NASDAQ:WISH) finished Thursday with a subtraction of -$0.04 to close at $0.89, a downside of -4.66 percent. An average of 32,333,840 shares of common stock have been traded in the last five days. There was a fall of -$0.1894 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 15,733,330 shares traded, while the 50-day average volume stands at 12,745,034.

WISH stock has decreased by -33.04% in the last month. The company shares reached their 1-month lowest point of $0.8831 on 09/22/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $0.91 and a high of $6.31 in 52 weeks. It has reached a new high 1 time so far this year and lost -71.36% or -$2.2194 in price. In spite of this, the price is down -85.89% from the 52-week high.


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Insider Transactions

1 day have passed since ContextLogic Inc. (WISH) last reported insider trading activity. Szulczewski Piotr, who is 10% Owner, most recently acquired $120,000 shares at $0.89 per share on Sep 22. In this transaction, the insider spent $107,184. 10% Owner, Szulczewski Piotr, disposed of 77,436 shares at a price of $0.97 on Sep 21. The insider now owns more than $74,764 worth of shares. Prior to that, 10% Owner Szulczewski Piotr went on to Sale 33,100 shares at $0.98 each on Sep 20. An amount of $32,564 was transacted.

Valuation Metrics

ContextLogic Inc. (WISH) has a trailing price-to-sales (P/S) ratio at 0.66, the price-to-book (PB) ratio at 0.87.

Financial Health

The quick ratio of ContextLogic Inc. for the three months ended June 29 was 3.00, and the current ratio was 3.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $1.11 billion compared to revenue of $2.08 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, ContextLogic Inc.’s return on assets was -22.70%.

Earnings Surprise

The analyst consensus anticipated ContextLogic Inc.’s latest quarter earnings to come in at -$0.16 per share, but it turned out to be -$0.13, a 18.80% surprise. For the quarter, EBITDA amounted to -$89.0 million. Shareholders own equity worth $670.0 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at ContextLogic Inc. (WISH) price momentum. RSI 9-day as of the close on 22 September was 19.11%, suggesting the stock is oversold, with historical volatility in this time frame at 51.48%.

As of today, WISH’s price is $0.9409 -17.54% or -$0.1894 from its 5-day moving average. WISH is currently trading -34.03% lower than its 20-day SMA and -47.61% lower than its 100-day SMA. However, the stock’s current price level is -41.02% below the SMA50 and -75.33% below the SMA200.

The stochastic %K and %D were 6.53% and 6.29%, respectively, and the average true range (ATR) was 0.0857. With the 14-day stochastic at 1.68% and the average true range at 0.0918, the RSI (14) stands at 24.45%. The stock has reached -0.1074 on the 9-day MACD Oscillator while the 14-day reading was at -0.1789.

Analyst Ratings

Loop Capital downgraded ContextLogic Inc. (NASDAQ: WISH) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for ContextLogic Inc. (WISH) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell WISH, while 2 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.

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

Analysts predict a range of price targets between $1.50 and $7.20, with a median target of $1.83. Taking a look at these predictions, the average price target given by analysts for ContextLogic Inc. (WISH) stock is $3.09.

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