Wise Group (NASDAQ:WSE) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Wise Group from “Hold” to “Sell,” though the broader analyst consensus remains “Moderate Buy,” with an average price target of $16.94.
• Wise Group shares opened at $10.98, near their 12-month low of $10.36 and below the 50-day moving average of $12.21.
• The company reported quarterly earnings of $0.12 per share on revenue of $576.48 million, while institutional investors including Ninety One UK, Amundi and Allianz have recently increased or initiated positions.

Wise Group (NASDAQ:WSE - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group assumed coverage on Wise Group in a research note on Wednesday, September 2nd. They set a "buy" rating for the company. Weiss Ratings raised shares of Wise Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 6th. JPMorgan Chase & Co. upped their price target on Wise Group from $17.30 to $17.70 and gave the stock an "overweight" rating in a research note on Friday. Morgan Stanley started coverage on shares of Wise Group in a research note on Monday, June 29th. They issued an "equal weight" rating and a $16.10 target price on the stock. Finally, Barclays upgraded Wise Group to a "strong-buy" rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Wise Group has an average rating of "Moderate Buy" and an average target price of $16.94.

Wise Group Price Performance

Shares of NASDAQ:WSE opened at $10.98 on Friday. The business's 50 day moving average price is $12.21. Wise Group has a 12 month low of $10.36 and a 12 month high of $17.47. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.17.

Wise Group (NASDAQ:WSE - Get Free Report) last posted its quarterly earnings data on Thursday, June 25th. The company reported $0.12 earnings per share for the quarter. The business had revenue of $576.48 million for the quarter. Research analysts forecast that Wise Group will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Wise Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ninety One UK Ltd boosted its stake in Wise Group by 37.4% in the third quarter. Ninety One UK Ltd now owns 7,195,705 shares of the company's stock valued at $82,629,000 after acquiring an additional 1,959,751 shares during the last quarter. Amundi bought a new stake in shares of Wise Group in the 2nd quarter valued at $58,328,000. Allianz Asset Management GmbH acquired a new position in Wise Group in the second quarter valued at about $14,441,000. The Manufacturers Life Insurance Company bought a new stake in shares of Wise Group in the second quarter worth about $3,154,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Wise Group during the second quarter worth about $2,695,000.

Wise Group Company Profile

Wise Group PLC is a technology company. Its product offering includes Wise Account, Wise Business and Wise Platform. Wise Account is its solution for people with cross-border financial needs. Wise Business offers product along with business-specific functionalities designed to enable business customers. Wise Platform provide financial services for banks, financial institutions and enterprises. Wise Group PLC is based in LONDON, United Kingdom.

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