WeWork Inc. [NYSE: WE] gained 6.42% or 0.07 points to close at $1.16 with a heavy trading volume of 8578389 shares. The company report on March 1, 2023 that WeWork and SiSebenza Announce Franchise Partnership for WeWork South Africa.
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WeWork Inc. (NYSE: WE) (“WeWork”), the leading global flexible space provider, today announced a franchise partnership with SiSebenza, a pan-African real estate investor, giving SiSebenza the exclusive right to operate WeWork’s existing locations in South Africa. The deal also grants SiSebenza exclusive rights to grow and operate the WeWork franchise in Ghana, Kenya, Mauritius and Nigeria.
The franchise partnership combines the strength of WeWork’s brand and product with SiSebenza’s proven local operating expertise. WeWork opened its first South Africa location in 2019 at WeWork The Link in Johannesburg, followed by WeWork 80 Strand in Cape Town and WeWork 155 West Street in Sandton, Johannesburg. WeWork has since seen strong demand from companies seeking flexible space solutions – this partnership will power growth and unlock the significant market opportunity in the region.
It opened the trading session at $1.14, the shares rose to $1.205 and dropped to $1.08, the range by which the price of stock traded the whole day. The daily chart for WE points out that the company has recorded -71.71% loss over the past six months. However, it is still -13.73% lower than its most recent low trading price.
If we look at the average trading volume of 8.90M shares, WE reached to a volume of 8578389 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 WeWork Inc. [WE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WE shares is $6.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WE stock is a recommendation set at 2.00. 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.
BTIG Research have made an estimate for WeWork Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 04, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on October 24, 2022, representing the official price target for WeWork Inc. stock. Previously, the target price had yet another raise to $6.50, while UBS analysts kept a Neutral rating on WE stock.
The Average True Range (ATR) for WeWork Inc. is set at 0.17, with the Price to Sales ratio for WE stock in the period of the last 12 months amounting to 0.24.
Trading performance analysis for WE stock
WeWork Inc. [WE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.45. With this latest performance, WE shares dropped by -35.56% in over the last four-week period, additionally sinking by -71.71% over the last 6 months – not to mention a drop of -81.65% 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 WE stock in for the last two-week period is set at 36.17, with the RSI for the last a single of trading hit 32.00, and the three-weeks RSI is set at 38.88 for WeWork Inc. [WE]. The present Moving Average for the last 50 days of trading for this stock 1.5296, while it was recorded at 1.1440 for the last single week of trading, and 3.4905 for the last 200 days.
WeWork Inc. [WE]: A deeper dive into fundamental analysis
WeWork Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.
An analysis of insider ownership at WeWork Inc. [WE]
There are presently around $721 million, or 87.10% of WE stock, in the hands of institutional investors. The top three institutional holders of WE stocks are: SB GLOBAL ADVISERS LTD with ownership of 324,348,048, which is approximately 0% of the company’s market cap and around 0.40% of the total institutional ownership; SB INVESTMENT ADVISERS (UK) LTD, holding 81,077,918 shares of the stock with an approximate value of $94.05 million in WE stocks shares; and FMR LLC, currently with $82.35 million in WE stock with ownership of nearly -0.772% of the company’s market capitalization.
Positions in WeWork Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 117 institutional holders increased their position in WeWork Inc. [NYSE:WE] by around 40,657,259 shares. Additionally, 44 investors decreased positions by around 13,219,204 shares, while 24 investors held positions by with 567,697,535 shares. The mentioned changes placed institutional holdings at 621,573,998 shares, according to the latest SEC report filing. WE stock had 50 new institutional investments in for a total of 8,361,545 shares, while 19 institutional investors sold positions of 2,809,783 shares during the same period.