ContextLogic (NASDAQ:WISH) Sets New 52-Week Low at $1.22

ContextLogic Inc. (NASDAQ:WISH – Get Rating) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $1.22 and last traded at $1.25, with a volume of 25339772 shares traded. The stock had previously closed at $1.38.

Several analysts have issued reports on the stock. Credit Suisse Group decreased their price objective on shares of ContextLogic from $12.00 to $9.50 and set an “outperform” rating for the company in a research note on Wednesday, March 2nd. Zacks Investment Research raised shares of ContextLogic from a “sell” rating to a “hold” rating in a research note on Thursday, March 3rd. Finally, Loop Capital downgraded shares of ContextLogic from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $4.00 to $2.00 in a research note on Tuesday, March 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, ContextLogic presently has an average rating of “Hold” and a consensus target price of $5.30.

The company has a market capitalization of $1.02 billion, a PE ratio of -3.35 and a beta of 0.39. The company’s fifty day moving average is $1.98 and its 200-day moving average is $2.83.

ContextLogic (NASDAQ:WISH – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.05. The company had revenue of $189.00 million for the quarter, compared to analyst estimates of $212.19 million. ContextLogic had a negative net margin of 19.51% and a negative return on equity of 23.67%. ContextLogic’s revenue was down 75.5% compared to the same quarter last year. During the same period last year, the company posted ($0.21) earnings per share. As a group, analysts predict that ContextLogic Inc. will post -0.59 earnings per share for the current fiscal year.

In other ContextLogic news, General Counsel Devang Shah sold 69,670 shares of ContextLogic stock in a transaction on Thursday, February 17th. The shares were sold at an average price of $2.40, for a total value of $167,208.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Brett Just sold 26,208 shares of ContextLogic stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $2.40, for a total transaction of $62,899.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,905,556 shares of company stock worth $3,577,940. 40.83% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comprehensive Financial Management LLC grew its holdings in ContextLogic by 0.8% in the third quarter. Comprehensive Financial Management LLC now owns 8,362,302 shares of the company’s stock worth $45,658,000 after purchasing an additional 63,771 shares during the last quarter. BlackRock Inc. grew its holdings in ContextLogic by 9.7% in the first quarter. BlackRock Inc. now owns 6,402,156 shares of the company’s stock worth $14,405,000 after purchasing an additional 563,737 shares during the last quarter. Mackay Shields LLC grew its holdings in ContextLogic by 1,217.0% in the third quarter. Mackay Shields LLC now owns 6,252,826 shares of the company’s stock worth $475,000 after purchasing an additional 5,778,048 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of ContextLogic during the first quarter worth $11,484,000. Finally, ProShare Advisors LLC lifted its stake in shares of ContextLogic by 32.7% during the first quarter. ProShare Advisors LLC now owns 5,029,842 shares of the company’s stock worth $11,317,000 after buying an additional 1,238,101 shares during the period. 27.33% of the stock is currently owned by institutional investors and hedge funds.

ContextLogic Company Profile (NASDAQ:WISH)

ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish, an ecommerce platform that connects users to merchants. It also provides marketplace and logistics services to merchants. The company was incorporated in 2010 and is headquartered in San Francisco, California.

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