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

Wise Group plc (NASDAQ:WSE)’s stock price dropped 5.8% during mid-day trading on Friday. The stock 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 Analyst Weigh In

Several equities analysts recently commented on WSE shares. Canaccord Genuity Group started coverage on Wise Group in a research report on Wednesday, September 2nd. They set a “buy” rating for the company. JPMorgan Chase & Co. lowered their price target on Wise Group from $17.50 to $17.30 and set an “overweight” rating on the stock in a report on Friday, July 17th. UBS Group raised their price target on Wise Group from $16.00 to $17.25 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen upgraded Wise Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Barclays raised Wise Group to a “strong-buy” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.84.

Wise Group Stock Down 8.9%

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

Wise Group (NASDAQ:WSE) last issued its quarterly earnings results on Thursday, June 25th. The company reported $0.12 EPS for the quarter. The company had revenue of $576.48 million during the quarter. As a group, sell-side analysts expect that Wise Group plc will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ninety One UK Ltd raised its holdings in shares of Wise Group by 37.4% during the 3rd quarter. Ninety One UK Ltd now owns 7,195,705 shares of the company’s stock valued at $82,629,000 after buying an additional 1,959,751 shares in the last quarter. Amundi bought a new stake in Wise Group in the 2nd quarter worth approximately $58,328,000. Allianz Asset Management GmbH purchased a new stake in Wise Group in the second quarter worth approximately $14,441,000. The Manufacturers Life Insurance Company purchased a new stake in Wise Group in the second quarter worth approximately $3,154,000. Finally, Citadel Advisors LLC purchased a new stake in Wise Group in the second quarter worth approximately $2,695,000.

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.