Wise (LON:WISE) Shares Down 9.5% - Here's What Happened

Wise plc (LON:WISE - Get Free Report)'s stock price was down 9.5% during mid-day trading on Thursday . The stock traded as low as GBX 1,014.27 ($13.61) and last traded at GBX 1,024 ($13.74). Approximately 16,695,271 shares traded hands during mid-day trading, an increase of 161% from the average daily volume of 6,401,512 shares. The stock had previously closed at GBX 1,132 ($15.18).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 1,270 ($17.04) price target on shares of Wise in a report on Thursday.

Wise Price Performance

The company has a current ratio of 1.06, a quick ratio of 0.06 and a debt-to-equity ratio of 22.88. The stock has a market cap of £10.61 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.28 and a beta of 0.75. The stock has a 50-day moving average price of GBX 1,077.59 and a two-hundred day moving average price of GBX 1,030.94.

Wise (LON:WISE - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported GBX 40.37 ($0.54) EPS for the quarter. Wise had a return on equity of 41.22% and a net margin of 25.11%. As a group, equities research analysts forecast that Wise plc will post 37.7347752 EPS for the current year.

Insider Buying and Selling at Wise

In other Wise news, insider Clare Gilmartin sold 48,360 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of GBX 1,058 ($14.19), for a total transaction of £511,648.80 ($686,316.30). 23.65% of the stock is currently owned by corporate insiders.

Wise Company Profile

Wise plc provides cross-border and domestic financial services for personal and business customers in the United Kingdom, rest of Europe, the Asia-Pacific, North America, and internationally. Its product portfolio includes international money transfer, wise account, international debit card, amount transfer, receive money, wise platform, business debit card, and mass payment services.