Wise Group (NASDAQ:WSE) Stock Price Down 5.8% - Time to Sell?

Key Points

• Wise Group shares fell 5.8% to approximately $11.39, with trading volume 44% below its average daily level.
• Analysts remain broadly positive, assigning the stock a consensus “Moderate Buy” rating and an average price target of $16.84, well above its recent trading price.
• The company reported quarterly EPS of $0.12 on $576.48 million in revenue, while analysts forecast full-year EPS of $0.57; its balance sheet shows a low debt-to-equity ratio of 0.17.

Wise Group plc (NASDAQ:WSE - Get Free Report)'s share price dropped 5.8% on Friday. The company traded as low as $11.47 and last traded at $11.3930. 840,358 shares traded hands during trading, a decline of 44% from the average daily volume of 1,490,571 shares. The stock had previously closed at $12.10.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WSE. Morgan Stanley assumed coverage on shares of Wise Group in a research note on Monday, June 29th. They set an "equal weight" rating and a $16.10 price target for the company. Weiss Ratings raised shares of Wise Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. dropped their price target on Wise Group from $17.50 to $17.30 and set an "overweight" rating on the stock in a research report on Friday, July 17th. UBS Group increased their price target on Wise Group from $16.00 to $17.25 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Wall Street Zen raised Wise Group from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Wise Group currently has a consensus rating of "Moderate Buy" and an average price target of $16.84.

Wise Group Stock Down 8.9%

The stock's 50 day moving average is $12.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.07.

Wise Group (NASDAQ:WSE - Get Free Report) last posted its earnings results on Thursday, June 25th. The company reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $576.48 million for the quarter. As a group, equities analysts predict that Wise Group plc will post 0.57 earnings per share for the current fiscal year.

Institutional Trading of Wise Group

A number of institutional investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. bought a new stake in shares of Wise Group during the second quarter valued at about $49,000. Versant Capital Management Inc bought a new stake in Wise Group during the 3rd quarter worth approximately $114,000. Two Sigma Securities LLC bought a new stake in Wise Group during the 2nd quarter worth approximately $125,000. Resolute Advisors LLC bought a new stake in Wise Group during the 2nd quarter worth approximately $192,000. Finally, jvl associates llc purchased a new stake in Wise Group in the 3rd quarter worth approximately $230,000.

About Wise Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.