Is ContextLogic Inc (NASDAQ:WISH), -543.29% Below Its High, Poised For A Strong Recovery?

In last trading session, ContextLogic Inc (NASDAQ:WISH) saw 0.63 million shares changing hands with its beta currently measuring 1.84. Company’s recent per share price level of $4.99 trading at $0.26 or 5.50% at ring of the bell on the day assigns it a market valuation of $119.81M. That closing price of WISH’s stock is at a discount of -543.29% from its 52-week high price of $32.10 and is indicating a premium of 28.86% from its 52-week low price of $3.55. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.54 million shares which gives us an average trading volume of 683.70K if we extend that period to 3-months.

For ContextLogic Inc (WISH), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 3.00. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 0 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$3.01 in the current quarter.

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ContextLogic Inc (NASDAQ:WISH) trade information

Upright in the green during last session for gaining 5.50%, in the last five days WISH remained trading in the red while hitting it’s week-highest on Tuesday, 11/14/23 when the stock touched $4.99 price level, adding 9.44% to its value on the day. ContextLogic Inc’s shares saw a change of -65.89% in year-to-date performance and have moved -0.60% in past 5-day. ContextLogic Inc (NASDAQ:WISH) showed a performance of 26.65% in past 30-days. Number of shares sold short was 3.43 million shares which calculate 7.76 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $4.80 to the stock, which implies a fall of -3.96% to its current value. Analysts have been projecting $4.00 as a low price target for the stock while placing it at a high target of $5.50. It follows that stock’s current price would drop -10.22% in reaching the projected high whereas dropping to the targeted low would mean a gain of 19.84% for stock’s current value.

ContextLogic Inc (WISH) estimates and forecasts

The company is estimating its revenue growth to increase by 37.30% in the current quarter and calculating 40.50% increase in the next quarter. This year revenue growth is estimated to fall -49.30% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $56.54 million for the same. And 2 analysts are in estimates of company making revenue of $52.9 million in the next quarter that will end on Mar 2024. Company posted $123 million and $115.88 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -54.00% while estimating it to be -54.30% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -6.31% during past 5 years. In 2023, company’s earnings growth rate is likely to be around 17.30% while estimates for its earnings growth in next 5 years are of 4.40%.

WISH Dividends

ContextLogic Inc is more likely to be releasing its next quarterly report on November 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

ContextLogic Inc (NASDAQ:WISH)’s Major holders

Insiders are in possession of 9.54% of company’s total shares while institution are holding 40.91 percent of that, with stock having share float percentage of 45.22%. Investors also watch the number of corporate investors in a company very closely, which is 40.91% institutions for ContextLogic Inc that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at WISH for having 1.47 million shares of worth $7.34 million. And as of Sep 29, 2023, it was holding 6.12% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group Inc, which was holding about 1.09 million shares on Sep 29, 2023. The number of shares represents firm’s hold over 4.54% of outstanding shares, having a total worth of $5.44 million.

On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 0.62 million shares of worth $3.09 million or 2.58% of the total outstanding shares. The later fund manager was in possession of 0.53 million shares on Sep 29, 2023, making its stake of worth around $2.63 million in the company or a holder of 2.19% of company’s stock.

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