ContextLogic Inc. (NASDAQ:WISH) Short Interest Up 32.9% in March

ContextLogic Inc. (NASDAQ:WISH) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,950,000 shares, an increase of 32.9% from the February 29th total of 2,220,000 shares. Currently, 14.3% of the company’s shares are sold short. Based on an average daily volume of 991,900 shares, the days-to-cover ratio is presently 3.0 days.

ContextLogic Stock Up 3.1 %

NASDAQ:WISH opened at $5.69 on Friday. The firm’s fifty day simple moving average is $5.68 and its 200 day simple moving average is $5.12. The stock has a market cap of $138.84 million, a P/E ratio of -0.43 and a beta of 2.20. ContextLogic has a twelve month low of $3.55 and a twelve month high of $13.46.

ContextLogic (NASDAQ:WISH) last announced its earnings results on Monday, March 4th. The company reported ($2.82) earnings per share for the quarter. ContextLogic had a negative net margin of 113.62% and a negative return on equity of 102.51%. The company had revenue of $53.00 million for the quarter.

Insider Buying and Selling

In related news, SVP Brett Just sold 7,999 shares of ContextLogic stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $6.31, for a total value of $50,473.69. Following the transaction, the senior vice president now directly owns 6,859 shares of the company’s stock, valued at $43,280.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ContextLogic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WISH. Cannell Capital LLC bought a new stake in shares of ContextLogic during the 3rd quarter valued at $3,889,000. New York Life Insurance Co. purchased a new stake in ContextLogic in the third quarter worth about $229,000. Bank of New York Mellon Corp increased its stake in shares of ContextLogic by 9.5% during the third quarter. Bank of New York Mellon Corp now owns 84,192 shares of the company’s stock valued at $371,000 after purchasing an additional 7,322 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of ContextLogic during the third quarter valued at approximately $45,000. Finally, Deuterium Capital Management LLC bought a new stake in shares of ContextLogic in the 3rd quarter worth approximately $55,000. 46.05% of the stock is owned by hedge funds and other institutional investors.

ContextLogic Company Profile

ContextLogic Inc operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company operates Wish, an ecommerce platform that connects consumers to merchants. It also provides marketplace and logistics services to merchants. ContextLogic Inc was incorporated in 2010 and is headquartered in San Francisco, California.