Wealthfront (NASDAQ:WLTH) Trading Up 5.4% – What’s Next?

Wealthfront (NASDAQ:WLTH)’s stock price was up 5.4% during mid-day trading on Monday . The company traded as high as $9.40 and last traded at $9.2880. Approximately 461,449 shares were traded during trading, a decline of 73% from the average daily volume of 1,685,760 shares. The stock had previously closed at $8.81.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WLTH. Wall Street Zen upgraded Wealthfront from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings began coverage on Wealthfront in a report on Wednesday, March 11th. They issued a “sell (d)” rating for the company. KeyCorp initiated coverage on Wealthfront in a research report on Tuesday, January 6th. They set a “sector weight” rating for the company. Royal Bank Of Canada decreased their price target on Wealthfront from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Finally, Zacks Research raised Wealthfront to a “hold” rating in a research note on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.17.

Wealthfront Stock Up 2.9%

The stock has a 50-day simple moving average of $8.48.

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.07). The firm had revenue of $96.14 million for the quarter, compared to the consensus estimate of $91.95 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sandia Investment Management LP acquired a new position in Wealthfront in the fourth quarter valued at approximately $44,000. Barclays PLC acquired a new position in shares of Wealthfront during the fourth quarter valued at about $136,000. Symmetry Investments LP bought a new position in shares of Wealthfront during the 4th quarter worth about $190,000. Realta Investment Advisors acquired a new stake in shares of Wealthfront in the 4th quarter valued at about $194,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Wealthfront in the 4th quarter valued at about $245,000.

About Wealthfront

Wealthfront (NASDAQ:WLTH) is a technology-driven wealth management firm that provides automated investment services to individual investors. Operating as a robo-advisor, the company uses algorithms and software to construct and manage diversified portfolios largely composed of low-cost exchange-traded funds (ETFs). Its platform is geared toward long-term, goal-based investing with an emphasis on passive strategies, automated rebalancing and straightforward user experience delivered through web and mobile applications.

The company’s product suite includes automated portfolio management, tax-loss harvesting and goal-planning tools that help clients set and track financial objectives.