Is Formula One Group (FWONA) Price Targeted To Increase?


As of Wednesday close, Formula One Group’s (NASDAQ:FWONA) stock was up $0.86, moving up 1.63 percent to $53.76. The average number of shares traded per day over the past five days has been 208,360 shares. 5 times new highs have been achieved over the past 5 days, with a $2.54 gain in that time frame. In the last twenty days, the average volume was 182,605, while in the previous 50 days, it was 177,464.

Since last month, FWONA stock rose 1.03%. Shares of the company fell to $45.01 on 11/04/22, the lowest level in the past month. A 52-week high of $64.70 was reached on 04/21/22 after having rallying from a 52-week low of $45.01. Since the beginning of this year, FWONA’s stock price has dropped by -9.40% or -$5.58, and marked a new high 10 times. However, the stock has declined by -16.91% since its 52-week high.

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FWONA stock investors should be aware that Formula One Group (FWONA) stock had its last reported insider trading activity 17 days ago on Nov 07. Gilchrist Malcolm Ian Grant, the Director of the company, disposed of 259 shares for $31.34 on Nov 07. It resulted in a $8,118 divestment by the insider. GAMCO INVESTORS, INC. ET AL added 1,000 shares at an average price of $29.31 on Oct 13. The insider now owns 30,000 shares following the transaction. On Sep 01, 10% Owner GAMCO INVESTORS, INC. ET AL bought 1,818 shares at $28.00 apiece. The transaction was valued at $50,904.

Valuation Metrics

Right now, Formula One Group (FWONA) has a P/E ratio of about 346.84. The stock’s beta is 1.09. Besides these, the trailing price-to-sales (P/S) ratio of 11.50, the price-to-book (PB) ratio of 1.92, and the price-to-cash flow ratio of 115.28 may also be considered.

Financial Health

In the three months ended June 29, Formula One Group’s quick ratio stood at 3.00, while its current ratio was 3.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.52, and the total debt-to-equity ratio was 0.53. On the profitability front, the trailing twelve-month gross margin is 31.70% percent. In the year ended June 29, operating margins totaled 7.40%. Based on annual data, FWONA earned $5.94 billion in gross profit and brought in $11.4 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 0.80%. Return on equity (ROE) for the past 12 months was 0.50%.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected Formula One Group to report $0.1 quarterly earnings, the actual figure was $0.35 per share. During the quarter, the company generated $774.0 million in EBITDA. The liabilities of Formula One Group were 24.77 billion at the end of its most recent quarter ended June 29, and its total debt was $3.38 billion. The value of shareholders’ equity is $610.71 million.

Technical Picture

This quick technical analysis looks at Formula One Group’s (FWONA) price momentum. With a historical volatility rate of 28.06%, the RSI 9-day stood at 63.02% on 23 November.

With respect to its five-day moving average, the current Formula One Group price is up by +4.96% percent or $2.54. At present, FWONA shares trade +1.90% above its 20-day simple moving average and -4.51% percent below its 100-day simple moving average. However, the stock is currently trading approximately -8.45% below its SMA50 and -5.35% below its SMA200.

Stochastic coefficient K was 86.17% and Stochastic coefficient D was 78.54%, while ATR was 1.77. Given the Stochastic reading of 96.58% for the 14-day period, the RSI (14) reading has been calculated as 56.52%. As of today, the MACD Oscillator reading stands at 0.92, while the 14-day reading stands at 1.07.

Analyst Ratings

Morgan Stanley upgraded its rating on Formula One Group (NASDAQ: FWONA) to an Overweight in a note to investors on June 15, 2022. The analysts firm previously had an Equal-weight rating on the stock.Formula One Group (FWONA) has been rated Overweight by analysts. According to 0 brokerage firms, FWONA is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Formula One Group stock as buy, with 7 recommending it as overweight.

With a median target price of $69.00, the current consensus forecast for the stock is $56.00 – $75.00. Based on these forecasts, analysts predict Formula One Group (FWONA) will achieve an average price target of $67.30.


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