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WeWork Inc. (NYSE: WE) To Drop -112.77% In Near Future

WeWork Inc. (NYSE:WE) shares, rose in value on Wednesday, 08/03/22, with the stock price up by 8.16% to the previous day’s close as strong demand from buyers drove the stock to $5.17.

Actively observing the price movement in the last trading, the stock closed the session at $4.78, falling within a range of $4.83 and $5.375. Referring to stock’s 52-week performance, its high was $14.97, and the low was $4.50. On the whole, WE has fluctuated by -0.39% over the past month.

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With the market capitalization of WeWork Inc. currently standing at about $3.94 billion, investors are eagerly awaiting this quarter’s results, scheduled for Nov 15, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.57, which is expected to increase to -$0.38 for fiscal year -$1.99 and then to about -$0.95 by fiscal year 2023.

Analysts have estimated the company’s revenue for the quarter at $824.31 million, with a low estimate of $820.13 million and a high estimate of $828.8 million.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that WE’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of WE currently trading nearly 1.72% and -10.25% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.32, while the 7-day volatility ratio is showing 7.90% which for the 30-day chart, stands at 7.04%. Furthermore, WeWork Inc. (WE)’s average true range (ATR) is 0.37. The company’s stock has been forecasted to trade at an average price of $9.13 over the course of the next 52 weeks, with a low of $6.50 and a high of $11.00. Based on these price targets, the low is -25.73% off current price, whereas the price has to move -112.77% to reach the yearly target high. Additionally, analysts’ median price of $9.50 is likely to be welcomed by investors because it represents a decrease of -83.75% from the current levels.

Data on historical trading for WeWork Inc. (NYSE:WE) indicates that the trading volumes over the past 10 days have averaged 5.15 million and over the past 3 months, they’ve averaged 6.44 million. According to company’s latest data on outstanding shares, there are 759.68 million shares outstanding.

Nearly 1.40% of WeWork Inc.’s shares belong to company insiders and institutional investors own 83.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 80.45 million shares as on Jul 14, 2022, resulting in a short ratio of 13.08. According to the data, the short interest in WeWork Inc. (WE) stood at 11.40% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 69.21 million. The stock has fallen by -39.88% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the WE stock heading into the next quarter.

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