ContextLogic Inc (NASDAQ:WISH) saw an upside of 0.66% to $4.77 after adding $0.03 on Tuesday. The 5-day average trading volume is 705,398 shares of the company’s common stock. It has gained $5.18 in the past week and touched a new high 3 times within the past 5 days. An average of 526,979 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 838,752.
WISH’s 1-month performance is -6.26% or -$0.29 on its low of $4.09 reached on 09/25/23. The company’s shares have touched a 52-week low of $4.09 and high of $32.10, with the stock’s rally to the 52-week high happening on 02/13/23. YTD, WISH has lost -67.39% or -$9.83 and has reached a new high 11 times. However, the current price is down -85.14% from the 52-week high price.
Insider Transactions
WISH stock investors last saw insider trading activity on Mar 08.Liu Ying Vivian (CFO and COO) most recently sold 340,000 shares at $0.46 per share on Mar 08. This transaction cost the insider $156,400. Head of Data Science, Wang Shuyan (Rachel), sold 20,337 shares at a price of $0.48 on Mar 08. Then, on Mar 02, Former Chief Product Officer Jain Tarun Kumar sold 88,000 shares at a price of $0.46 per share. This transaction amounted to $40,058.
Valuation Metrics
WISH stock has a beta of 1.68. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.27 while the price-to-book (PB) in the most recent quarter is 0.34.
ContextLogic Inc’s quick ratio for the period ended June 29 was 2.39, with the current ratio over the same period at 2.39. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.03, while the total debt to equity was 0.05. In terms of profitability, the gross margin trailing 12 months is 23.11%. The firm’s gross profit as reported stood at $166.0 million against revenue of $571.0 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -12.5% to -$80.0 million, while revenue of -$89.0 million was -11.25% off the previous quarter. Analysts expected WISH to announce -$3.74 per share in earnings in its latest quarter, but it posted -$3.38, representing a 9.60% surprise. EBITDA for the quarter stood at more than -$86.0 million. WISH stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 247.0 million, with total debt at $16.0 million. Shareholders hold equity totaling $23.78 million.
Let’s look briefly at ContextLogic Inc (WISH) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 53.43% to suggest the stock is trending Neutral, with historical volatility in this time period at 74.71%.
The stock’s 5-day moving average is $4.43, reflecting a +11.74% or $0.50 change from its current price. WISH is currently trading -5.23% above its 20-day SMA, -32.13% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -48.11% and SMA200 by-74.03%.
Stochastic %K and %D was 39.38% and 24.09% and the average true range (ATR) pointed at 0.35. The RSI (14) points at 45.46%, while the 14-day stochastic is at 60.14% with the period’s ATR at 0.35. The stock’s 9-day MACD Oscillator is pointing at 0.16 and -0.01 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for ContextLogic Inc (NASDAQ: WISH), Loop Capital downgraded it to a Sell rating. They previously had a Hold rating on the stock. Analysts offering their rating for WISH stock have a consensus rating for the stock as Sell. Currently, 3 brokerage advisors rate WISH as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.
What is WISH’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $5.00 and a high of $6.50, with their median price target at $6.00. Looking at these predictions, the average price target given by analysts is for ContextLogic Inc (WISH) stock is $5.83.
