As of Thursday close, Formula One Group’s (NASDAQ:FWONK) stock was down -$2.91, moving down -4.40 percent to $63.20. The average number of shares traded per day over the past five days has been 1,221,380 shares. 2 times new highs have been achieved over the past 5 days, with a -$4.66 fall in that time frame. In the last twenty days, the average volume was 973,130.
Since last month, FWONK stock retreated -4.02%. Shares of the company fell to $62.67 on 09/21/23, the lowest level in the past month. Since the beginning of this year, FWONK’s stock price has risen by 9.40%. However, the stock has declined by -19.57% since its 52-week high.
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FWONK stock investors should be aware that Formula One Group (FWONK) stock had its last reported insider trading activity 37 days ago on Aug 16. MALONE JOHN C, the Chairman of the Board of the company, disposed of 99,454 shares for $69.32 on Aug 16. It resulted in a $6,894,130 divestment by the insider. MAFFEI GREGORY B sold 5,182 shares at an average price of $32.82 on Aug 16. The insider now owns 0 shares following the transaction. On Aug 15, Chairman of the Board MALONE JOHN C sold 41,154 shares at $70.02 apiece. The transaction was valued at $2,881,504.
Valuation Metrics
Right now, Formula One Group (FWONK) has a P/E ratio of about 33.98. The stock’s beta is 1.10. Besides these, the trailing price-to-sales (P/S) ratio of 9.43, the price-to-book (PB) ratio of 2.14.
Financial Health
Based on annual data, FWONK earned $6.28 billion in gross profit and brought in $12.16 billion in revenue.
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 $0.06 quarterly earnings, the actual figure was $0.41 per share, beating the consensus estimate by 583.30%. During the quarter, the company generated $600.0 million in EBITDA. The liabilities of Formula One Group were 23.25 billion at the end of its most recent quarter ended June 29, and its total debt was $2.95 billion. The value of shareholders’ equity is $614.08 million.
Technical Picture
This quick technical analysis looks at Formula One Group’s (FWONK) price momentum. With a historical volatility rate of 32.55%, the RSI 9-day stood at 30.19% on 21 September.
With respect to its five-day moving average, the current Formula One Group price is down by -6.87% percent or -$4.66. At present, FWONK shares trade -4.43% below its 20-day simple moving average.
Stochastic coefficient K was 23.33% and Stochastic coefficient D was 41.29%, while ATR was 2.04. Given the Stochastic reading of 7.89% for the 14-day period, the RSI (14) reading has been calculated as 31.54%. As of today, the MACD Oscillator reading stands at -1.21, while the 14-day reading stands at -1.33.
Analyst Ratings
Wolfe Research upgraded its rating on Formula One Group (NASDAQ: FWONK) to an Outperform in a note to investors on September 05, 2023. The analysts firm previously had a Peer perform rating on the stock.Formula One Group (FWONK) has been rated Overweight by analysts. According to 0 brokerage firms, FWONK is a sell, and 2 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Formula One Group stock as buy, with 10 recommending it as overweight.
With a median target price of $81.00, the current consensus forecast for the stock is $68.00 – $92.00. Based on these forecasts, analysts predict Formula One Group (FWONK) will achieve an average price target of $80.96.
