WeWork Inc. (NYSE:WE – Get Rating) was the target of unusually large options trading on Wednesday. Stock investors purchased 10,829 put options on the company. This is an increase of approximately 102% compared to the typical daily volume of 5,361 put options.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of WE. First Affirmative Financial Network bought a new position in WeWork during the 3rd quarter worth $27,000. Bank of Montreal Can bought a new position in WeWork during the 4th quarter worth $32,000. Royal Bank of Canada raised its position in WeWork by 114.7% during the 1st quarter. Royal Bank of Canada now owns 5,099 shares of the company's stock worth $35,000 after purchasing an additional 2,724 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in WeWork by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,267 shares of the company's stock worth $39,000 after purchasing an additional 6,705 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in WeWork during the 3rd quarter worth $40,000. 81.61% of the stock is owned by institutional investors.
Get WeWork alerts:WeWork Trading Up 13.2 %
Shares of WE opened at $1.80 on Thursday. WeWork has a 52 week low of $1.02 and a 52 week high of $8.08. The stock has a fifty day moving average of $1.79 and a 200-day moving average of $3.00.
WeWork (NYSE:WE – Get Rating) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.22). The firm had revenue of $817.00 million during the quarter, compared to the consensus estimate of $860.70 million. Sell-side analysts predict that WeWork will post -2.48 earnings per share for the current fiscal year.Analyst Ratings Changes
A number of equities research analysts recently issued reports on WE shares. BTIG Research assumed coverage on WeWork in a research report on Friday, November 4th. They set a "buy" rating and a $7.50 price target on the stock. Piper Sandler reduced their target price on WeWork to $5.00 in a report on Wednesday, November 16th. Finally, Cantor Fitzgerald assumed coverage on WeWork in a report on Monday, October 24th. They issued an "overweight" rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.83.
WeWork Company Profile
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WeWork Inc provides flexible workspace solutions to individuals and organizations worldwide. The company offers workstation, private office, and customized floor solutions; and various amenities and services, such as private phone booths, internet, high-speed business printers and copiers, mail and package handling, front desk services, off-peak building access, common areas, and daily enhanced cleaning solutions.
Further Reading
- Get a free copy of the StockNews.com research report on WeWork (WE)
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