WeWork (NYSE:WE) Shares Gap Up to $0.98

WeWork Inc. (NYSE:WE – Get Rating)’s share price gapped up before the market opened on Friday . The stock had previously closed at $0.98, but opened at $1.02. WeWork shares last traded at $1.01, with a volume of 1,219,799 shares traded.

WeWork Stock Performance

The firm’s fifty day simple moving average is $1.47 and its 200-day simple moving average is $2.21. The stock has a market cap of $713.21 million, a P/E ratio of -0.37 and a beta of 1.65.

WeWork (NYSE:WE – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.19). The firm had revenue of $848.00 million for the quarter, compared to the consensus estimate of $847.34 million. WeWork’s revenue for the quarter was up 18.1% on a year-over-year basis. Analysts predict that WeWork Inc. will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of WeWork

Hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in WeWork by 24.4% in the 2nd quarter. FMR LLC now owns 83,506,868 shares of the company’s stock valued at $419,205,000 after purchasing an additional 16,377,610 shares during the period. Balyasny Asset Management LLC acquired a new stake in WeWork in the 3rd quarter valued at $7,018,000. Neuberger Berman Group LLC grew its position in WeWork by 82.6% in the 4th quarter. Neuberger Berman Group LLC now owns 3,745,181 shares of the company’s stock valued at $5,356,000 after purchasing an additional 1,693,911 shares during the period. Norges Bank acquired a new stake in WeWork in the 4th quarter valued at $2,286,000. Finally, State Street Corp grew its position in WeWork by 191.9% in the 2nd quarter. State Street Corp now owns 2,090,696 shares of the company’s stock valued at $10,495,000 after purchasing an additional 1,374,534 shares during the period. Institutional investors own 81.61% of the company’s stock.

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.