ContextLogic Inc (NASDAQ: LOGC)’s stock price has plunge by 2.29relation to previous closing price of 5.67. Nevertheless, the company has seen a 5.84% surge in its stock price over the last five trading sessions. globenewswire.com reported 2024-08-08 that OAKLAND, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) — ContextLogic Inc. (Nasdaq: LOGC), (“ContextLogic,” the “Company,” “we” or “our”) today reported its financial results for the quarter and six months ended June 30, 2024.
Is It Worth Investing in ContextLogic Inc (NASDAQ: LOGC) Right Now?
The stock has a 36-month beta value of 2.09. Opinions on the stock are mixed, with 2 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for LOGC is 22.10M, and at present, short sellers hold a 14.18% of that float. On October 04, 2024, the average trading volume of LOGC was 267.60K shares.
LOGC’s Market Performance
LOGC’s stock has seen a 5.84% increase for the week, with a 11.97% rise in the past month and a 0.43% gain in the past quarter. The volatility ratio for the week is 3.52%, and the volatility levels for the past 30 days are at 3.15% for ContextLogic Inc The simple moving average for the last 20 days is 8.25% for LOGC stock, with a simple moving average of 4.98% for the last 200 days.
Analysts’ Opinion of LOGC
Many brokerage firms have already submitted their reports for LOGC stocks, with Citigroup repeating the rating for LOGC by listing it as a “Neutral.” The predicted price for LOGC in the upcoming period, according to Citigroup is $5.50 based on the research report published on November 09, 2023 of the previous year 2023.
Loop Capital, on the other hand, stated in their research note that they expect to see LOGC reach a price target of $4, previously predicting the price at $6. The rating they have provided for LOGC stocks is “Hold” according to the report published on November 08th, 2023.
Loop Capital gave a rating of “Sell” to LOGC, setting the target price at $6 in the report published on June 29th of the previous year.
LOGC Trading at 7.32% from the 50-Day Moving Average
After a stumble in the market that brought LOGC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.55% of loss for the given period.
Volatility was left at 3.15%, however, over the last 30 days, the volatility rate increased by 3.52%, as shares surge +11.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.05% upper at present.
During the last 5 trading sessions, LOGC rose by +5.84%, which changed the moving average for the period of 200-days by +3.94% in comparison to the 20-day moving average, which settled at $5.39. In addition, ContextLogic Inc saw -2.52% 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 LOGC starting from Just Brett, who sale 4,369 shares at the price of $5.64 back on May 16 ’24. After this action, Just Brett now owns 16,701 shares of ContextLogic Inc, valued at $24,642 using the latest closing price.
Forster Joanna, the General Counsel & CCO of ContextLogic Inc, sale 16,394 shares at $5.45 during a trade that took place back on May 02 ’24, which means that Forster Joanna is holding 39,046 shares at $89,331 based on the most recent closing price.
Stock Fundamentals for LOGC
Current profitability levels for the company are sitting at:
- -1.44 for the present operating margin
- 0.19 for the gross margin
The net margin for ContextLogic Inc stands at -1.41. The total capital return value is set at -1.45. Equity return is now at value -89.61, with -59.22 for asset returns.
Currently, EBITDA for the company is -324.0 million with net debt to EBITDA at 0.46. When we switch over and look at the enterprise to sales, we see a ratio of 0.32. The liquidity ratio also appears to be rather interesting for investors as it stands at 31.80.
Conclusion
To sum up, ContextLogic Inc (LOGC) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
