Saturday, June 25, 2022

ContextLogic Inc. [WISH] stock for 160,095 USD was sold by Liu Pai

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. ContextLogic Inc. shares valued at $160,095 were sold by Liu Pai on Jun 16. At $1.68 per share, Liu Pai sold 95,289 shares. The insider’s holdings dropped to 2,478 shares worth approximately $4633.860000000001 following the completion of this transaction.


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Also, Liu Pai sold 90,000 shares, netting a total of over 180,018 in proceeds. Following the sale of shares at $2.00 each, the insider now holds 95,289 shares.

Before that, Shah Devang had sold 203,433 shares from its account. In a trade valued at $390,762, the General Counsel and Secretary traded ContextLogic Inc. shares for $1.92 each. Upon closing the transaction, the insider’s holdings decreased to 203,433 shares, worth approximately $8570.210000000001.

As published in a research note from Loop Capital on March 22, 2022, ContextLogic Inc. [WISH] has been rated down from a Buy to a Hold and the price target has been revised to $2 from $4. This represents a 6.5% premium over Wednesday’s closing price. Analysts at UBS downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early December. As of October 04, 2021, Oppenheimer has decreased its “Perform” rating to a “an Underperform” for WISH. Earlier on August 13, 2021, Stifel resumed its rating. Their recommendation was “a Hold” for WISH stock.

Analyzing WISH’s Price Performance

On Wednesday, ContextLogic Inc. [NASDAQ: WISH] plunged -1.06% to $1.87. The stock’s lowest price that day was $1.84, but it reached a high of $1.95 in the same session. During the last five days, there has been a surge of approximately 16.15%. Over the course of the year, ContextLogic Inc. shares have dropped approximately -39.87%. Shares of the company reached a 52-week high of $3.2600 on 01/03/22 and a 52-week low of $1.2000 on 05/12/22. A 50-day SMA is recorded $1.7486, while a 200-day SMA reached $3.2143. Nevertheless, trading volume fell to 12.71 million shares from 17.61 million shares the previous day.

Support And Resistance Levels for ContextLogic Inc. (WISH)

According to the 24-hour chart, there is a support level at 1.8233, which, if violated, would cause prices to drop to 1.7767. In the upper region, resistance lies at 1.9333. The next price resistance is at 1.9967. RSI (Relative Strength Index) is 53.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0352, which suggests the price will decrease in the coming days. Percent R is at 44.44%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is ContextLogic Inc. subject to short interest?

Stocks of ContextLogic Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 1.74 million shares to 50.24 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 48.5 million shares. A jump of 3.46% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.59.

Which companies own the most shares of ContextLogic Inc. (WISH)?

According to The Vanguard Group, Inc. filings, the company currently owns 37,062,074 shares, which is about 6.19% of the total WISH shares outstanding. The investor’s shares have plunged by -304,287 from its previous 13-F filing of 37366361.0 shares. With the completion of the buy, Susquehanna Financial Group LLLP’s stake is now worth $18,927,535. Comprehensive Financial Managemen reduced a 0.00% interest valued at $14.74 million while Maple Rock Capital Partners, Inc. purchased a 4,231,000 stake. A total of 2,700,000 shares of ContextLogic Inc. were bought by Soviero Asset Management LP during the quarter, and 2,507,184 were bought by Morgan Stanley & Co. LLC. In its current portfolio, BlackRock Fund Advisors holds 5,515,594 shares valued at $9.71 million.

In terms of ContextLogic Inc. share price expectations, FactSet research, analysts set an average price target of $3.23 in the next 12 months, up nearly 0.53% from the previous closing price of $1.89. Analysts anticipate ContextLogic Inc. stock to reach $7.60 by 2022, with the lowest price target being $1.50. In spite of this, 5 analysts ranked ContextLogic Inc. stock as a Hold at the end of 2022. On August 13, 2021, Loop Capital assigned a price target of “a Buy” to the stock and reiterated coverage with a $15.

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