ContextLogic Inc. [NASDAQ: WISH] traded at a low on 04/20/23, posting a -1.37 loss after which it closed the day’ session at $7.18. The company report on April 20, 2023 at 4:05 PM that Wish Announces $50 Million Share Repurchase Program.
“We believe that the current macroeconomic environment and the strength of our balance sheet presents an attractive buying opportunity for our stock. This share repurchase program demonstrates the Board’s and management’s confidence in the future of our business and our commitment to creating long-term, sustainable value for our shareholders,” said Vivian Liu, Chief Financial Officer and Chief Operating Officer of Wish. “We believe the current market does not reflect the long-term value of our shares of common stock and we believe this share repurchase program will support our efforts to unlock the long-term value and opportunity we see ahead.”.
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The results of the trading session contributed to over 2522868 shares changing hands. Over the past one week, the price volatility of ContextLogic Inc. stands at 8.19% while the volatility over the past one month is 9.87%.
The market cap for WISH stock reached $178.49 million, with 22.90 million shares outstanding and 21.51 million shares in the current float. Compared to the average trading volume of 1.20M shares, WISH reached a trading volume of 2522868 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $42.00 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 1.16, with the Price to Sales ratio for WISH stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 28.92.
How has WISH stock performed recently?
ContextLogic Inc. [WISH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.14. With this latest performance, WISH shares dropped by -41.57% in over the last four-week period, additionally sinking by -68.48% over the last 6 months – not to mention a drop of -88.49% 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 28.35, with the RSI for the last a single of trading hit 22.99, and the three-weeks RSI is set at 32.67 for ContextLogic Inc. [WISH]. The present Moving Average for the last 50 days of trading for this stock 14.14, while it was recorded at 7.38 for the last single week of trading, and 25.12 for the last 200 days.
ContextLogic Inc. [WISH]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and ContextLogic Inc. [WISH] shares currently have an operating margin of -62.91 and a Gross Margin at +29.81. ContextLogic Inc.’s Net Margin is presently recorded at -66.55.
Return on Total Capital for WISH is now -54.18, given the latest momentum, and Return on Invested Capital for the company is -58.01. Return on Equity for this stock declined to -59.31, with Return on Assets sitting at -36.89. When it comes to the capital structure of this company, ContextLogic Inc. [WISH] has a Total Debt to Total Equity ratio set at 4.19. Additionally, WISH Total Debt to Total Capital is recorded at 4.02, with Total Debt to Total Assets ending up at 2.50. Long-Term Debt to Equity for the company is recorded at 2.73, with the Long-Term Debt to Total Capital now at 2.62.
Reflecting on the efficiency of the workforce at the company, ContextLogic Inc. [WISH] managed to generate an average of -$433,409 per employee. Receivables Turnover for the company is 37.23 with a Total Asset Turnover recorded at a value of 0.55.ContextLogic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.
Earnings analysis for ContextLogic Inc. [WISH]
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%.
Insider trade positions for ContextLogic Inc. [WISH]
There are presently around $64 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 1,794,024, which is approximately 25.048% of the company’s market cap and around 4.40% of the total institutional ownership; BLACKROCK INC., holding 1,444,873 shares of the stock with an approximate value of $10.52 million in WISH stocks shares; and GGV CAPITAL LLC, currently with $6.24 million in WISH stock with ownership of nearly 0% of the company’s market capitalization.
70 institutional holders increased their position in ContextLogic Inc. [NASDAQ:WISH] by around 1,651,480 shares. Additionally, 72 investors decreased positions by around 586,635 shares, while 50 investors held positions by with 6,586,168 shares. The mentioned changes placed institutional holdings at 8,824,283 shares, according to the latest SEC report filing. WISH stock had 23 new institutional investments in for a total of 136,990 shares, while 31 institutional investors sold positions of 116,446 shares during the same period.