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Formula One Group (FWONK) Reveals an Earnings Mystery

Formula One Group (NASDAQ:FWONK) went up by 0.54% from its latest closing price compared to the recent 1-year high of $71.17. The company’s stock price has collected -6.27% of loss in the last five trading sessions. MarketWatch.com reported on 07/19/22 that NASCAR adding Chicago street race as it competes with Formula 1 for fans

Is It Worth Investing in Formula One Group (NASDAQ :FWONK) Right Now?

Opinions of the stock are interesting as 6 analysts out of 10 who provided ratings for Formula One Group declared the stock was a “buy,” while 0 rated the stock as “overweight,” 2 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $69.11, which is $10.39 above the current price. FWONK currently public float of 197.85M and currently shorts hold a 5.38% ratio of that float. Today, the average trading volume of FWONK was 1.08M shares.

FWONK’s Market Performance

FWONK stocks went down by -6.27% for the week, with a monthly drop of -11.65% and a quarterly performance of -3.14%, while its annual performance rate touched 18.33%. The volatility ratio for the week stands at 2.79% while the volatility levels for the past 30 days are set at 2.51% for Formula One Group. The simple moving average for the period of the last 20 days is -7.69% for FWONK stocks with a simple moving average of -5.04% for the last 200 days.

Analysts’ Opinion of FWONK

Many brokerage firms have already submitted their reports for FWONK stocks, with Rosenblatt repeating the rating for FWONK by listing it as a “Buy.” The predicted price for FWONK in the upcoming period, according to Rosenblatt is $81 based on the research report published on April 26th of the current year 2022.

Goldman, on the other hand, stated in their research note that they expect to see FWONK reach a price target of $48. The rating they have provided for FWONK stocks is “Neutral” according to the report published on July 16th, 2021.

FWONK Trading at -8.29% from the 50-Day Moving Average

After a stumble in the market that brought FWONK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.00% of loss for the given period.

Volatility was left at 2.51%, however, over the last 30 days, the volatility rate increased by 2.79%, as shares sank -12.46% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.22% lower at present.

During the last 5 trading sessions, FWONK fell by -6.27%, which changed the moving average for the period of 200-days by -3.66% in comparison to the 20-day moving average, which settled at $64.34. In addition, Formula One Group saw -5.47% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at FWONK starting from GAMCO INVESTORS, INC. ET AL, who purchase 1,818 shares at the price of $28.00 back on Sep 01. After this action, GAMCO INVESTORS, INC. ET AL now owns 42,000 shares of Formula One Group, valued at $50,904 using the latest closing price.

GAMCO INVESTORS, INC. ET AL, the 10% Owner of Formula One Group, purchase 182 shares at $28.02 during a trade that took place back on Aug 31, which means that GAMCO INVESTORS, INC. ET AL is holding 40,182 shares at $5,100 based on the most recent closing price.

Stock Fundamentals for FWONK

Current profitability levels for the company are sitting at:

  • +1.87 for the present operating margin
  • +11.70 for the gross margin

The net margin for Formula One Group stands at -8.90.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.83.

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