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

Wise Group plc (NASDAQ:WSE)’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) 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.