ContextLogic Inc. [NASDAQ: WISH] gained 4.18% or 0.02 points to close at $0.62 with a heavy trading volume of 13181363 shares. The company report on January 17, 2023 that Wish Announces Integrations with ShipStation and ShippingEasy.
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The ShipStation and ShippingEasy APIs connect Wish merchants to both platforms’ robust shipping and fulfillment software capabilities. ShipStation automates many aspects of fulfillment, including order processing, inventory management, the creation of shipping labels, and customer communication. ShippingEasy offers powerful shipping automation, low carrier rates, multi-channel order processing, and branded tracking tools.
It opened the trading session at $0.609, the shares rose to $0.6441 and dropped to $0.5906, the range by which the price of stock traded the whole day. The daily chart for WISH points out that the company has recorded -63.57% loss over the past six months. However, it is still -40.91% lower than its most recent low trading price.
If we look at the average trading volume of 19.80M shares, WISH reached to a volume of 13181363 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about ContextLogic Inc. [WISH]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WISH shares is $1.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WISH stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for ContextLogic Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on December 13, 2022. While these analysts kept the previous recommendation, Loop Capital dropped their target price from $4 to $2. The new note on the price target was released on March 22, 2022, representing the official price target for ContextLogic Inc. stock. Previously, the target price had yet another raise to $4, while UBS analysts kept a Neutral rating on WISH stock.
The Average True Range (ATR) for ContextLogic Inc. is set at 0.06, with the Price to Sales ratio for WISH stock in the period of the last 12 months amounting to 0.55. The Price to Book ratio for the last quarter was 0.73, with the Price to Cash per share for the same quarter was set at 1.29.
Trading performance analysis for WISH stock
ContextLogic Inc. [WISH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.34. With this latest performance, WISH shares gained by 19.37% in over the last four-week period, additionally sinking by -63.57% over the last 6 months – not to mention a drop of -74.57% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WISH stock in for the last two-week period is set at 55.96, with the RSI for the last a single of trading hit 60.62, and the three-weeks RSI is set at 51.73 for ContextLogic Inc. [WISH]. The present Moving Average for the last 50 days of trading for this stock 0.6188, while it was recorded at 0.6305 for the last single week of trading, and 1.2306 for the last 200 days.
ContextLogic Inc. [WISH]: A deeper dive into fundamental analysis
ContextLogic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 2.70.
ContextLogic Inc. [WISH]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WISH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ContextLogic Inc. go to 9.60%.
An analysis of insider ownership at ContextLogic Inc. [WISH]
There are presently around $145 million, or 46.80% of WISH stock, in the hands of institutional investors. The top three institutional holders of WISH stocks are: VANGUARD GROUP INC with ownership of 43,044,235, which is approximately -1.772% of the company’s market cap and around 4.40% of the total institutional ownership; BLACKROCK INC., holding 40,291,298 shares of the stock with an approximate value of $25.1 million in WISH stocks shares; and GGV CAPITAL LLC, currently with $16.02 million in WISH stock with ownership of nearly -16.63% of the company’s market capitalization.
Positions in ContextLogic Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 74 institutional holders increased their position in ContextLogic Inc. [NASDAQ:WISH] by around 20,737,063 shares. Additionally, 73 investors decreased positions by around 33,049,011 shares, while 58 investors held positions by with 178,856,301 shares. The mentioned changes placed institutional holdings at 232,642,375 shares, according to the latest SEC report filing. WISH stock had 20 new institutional investments in for a total of 2,410,902 shares, while 35 institutional investors sold positions of 20,771,419 shares during the same period.