The trading price of ContextLogic Inc. (NASDAQ:WISH) floating higher at last check on Tuesday, Jun 08, closing at $7.76, 9.54% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $8.06 and $8.42. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $32.85 and a 52-week low of $7.52. Over the past month, the stock has suffered -38.66% in value.
ContextLogic Inc., whose market valuation is $4.8 Billion at the time of this writing, is expected to release its quarterly earnings report Aug 10, 2018- Aug 13, 2018. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.14 per share this quarter, however they have predicted annual earnings per share of -$0.56 for 2021 and -$0.22 for 2022. It means analysts are expecting annual earnings per share growth of -0.9% this year and -0.61% next year.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned WISH a recommendation rating is 11. Out of them, 2 rate it a Hold, while 9 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged ContextLogic Inc. (WISH) as Underperform, while not any of them advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that WISH’s price is currently -5.32% off the SMA20 and -28.86% off the SMA50. The RSI metric on the 14-day chart is currently showing 40.43, and weekly volatility stands at 6.53%. When measured over the past 30 days, the indicator reaches 9.65%. ContextLogic Inc. (NASDAQ:WISH)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 0.9. With analysts defining $12-$24 as the low and high price targets, we arrive at a consensus price target of $18.3 for the trailing 12-month period. The current price is about 41.18% off the estimated low and 182.35% off the forecast high, based on this estimate. Investors will be thrilled if WISH’s share price rises to $19, which is the median consensus price. At that level, WISH’s share price would be +123.53% above current price.
To see how ContextLogic Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: WISH stock’s performance was +9.54% at last check in today’s session, and 0% in the past year, while Amazon.com Inc (AMZN) has been trading +1.79% in recent session and positioned +28.8% higher than it was a year ago. Another comparable company Alibaba Group Holding (BABA) saw its stock trading -0.87% lower in today’s session but was down -1.21% in a year. Furthermore, Pinduoduo Inc ADR (PDD) showed an increase of 9.54% today while its price kept declining at 0% over the past year. ContextLogic Inc. has a P/E ratio of 0, compared to Amazon.com Inc’s 60.86 and Alibaba Group Holding’s 25.4. Also during today’s trading, the S&P 500 Index has surged 0.01%, while the Dow Jones Industrial also saw a negative seesion, down -0.01% today.
An evaluation of the daily trading volume of ContextLogic Inc. (NASDAQ:WISH) indicates that the 3-month average is 9.08 Million. However, this figure has declined over the past 10 days to an average of 19.06 Million.
Currently, records show that 504.18 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 6.16% of outstanding shares, whereas institutions hold 76.9%. The stats also highlight that short interest as of April 14, 2021, stood at 25.26 Million shares, resulting in a short ratio of 4.73 at that time. From this, we can conclude that short interest is 4.08% of the company’s total outstanding shares. It is noteworthy that short shares in April were up slightly from the previous month’s figure, which was 16.36 Million. However, since the stock’s price has seen -57.46% year-to-date, investors’ interest is likely to be reignited due to its potential to move higher ahead.