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ContextLogic Inc: Making Heads Or Tails Of WISH Stock

ContextLogic Inc (NASDAQ:WISH) price is hovering higher on Monday, February 12, jumping 40.69% above its previous close.

A look at today’s price movement shows that the recent level at last check reads $4.50. The company’s 5Y monthly beta was ticking 1.98. Taking into account the 52-week price action we note that the stock hit a 52-week high of $32.10 and 52-week low of $3.55. The stock added 43.08% on its value in the past month.

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ContextLogic Inc, which has a market valuation of $152.01 million, is expected to release its quarterly earnings report Feb 21, 2024 – Feb 26, 2024. Analysts tracking WISH have forecast the quarterly EPS to shrink by -2.98 per share this quarter, while the same analysts predict the annual EPS to hit -$13.32 for the year 2024 and up to -$7.68 for 2024. In this case, analysts estimate an annual EPS growth of 22.10% for the year and 42.30% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $55.68 million, with the likely lows of $53.06 million and highs of $58.3 million. The average estimate suggests sales growth for the quarter will likely fall by -54.70% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $289.68 million for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow -49.30% below that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give WISH a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as 50% Buy.

The overview shows that WISH’s price is at present 42.83% off the SMA20 and 23.85% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 72.41, with weekly volatility standing at 5.67%. The indicator jumps to 6.36% when calculated based on the past 30 days. ContextLogic Inc (NASDAQ:WISH)’s beta value is holding at 2.00, while the average true range (ATR) indicator is currently reading 0.44.

Turning out attention to how the ContextLogic Inc stock has performed in comparison to its peers in the industry, here’s what we find: WISH’s stock is 40.69% on the day and -67.06% in the past 12 months. Turning out attention to how the ContextLogic Inc stock has performed in comparison to its peers in the industry, here’s what we find: WISH’s stock is 40.69% on the day and -67.06% in the past 12 months.

An analysis of the ContextLogic Inc (NASDAQ:WISH) stock in terms of its daily trading volume indicates that the 3-month average is 100.65. However, this figure increases on the past 10-day timeline to an average of 0.47 million.

Current records show that the company has 24.01M in outstanding shares. The insiders’ percentage holdings are 16.04% of outstanding shares while the percentage share held by institutions stands at 34.30%. The stats also highlight that short interest as of Jan 31, 2024, stood at 3.17 million shares, which puts the short ratio at the time at 5.69. From this we can glean that short interest is 13.20% of company’s current outstanding shares. But the 6.41% upside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.