Wise Group (NASDAQ:WSE) Stock Rating Cut to Sell at Wall Street Zen

Wise Group (NASDAQ:WSE) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on WSE. Weiss Ratings raised shares of Wise Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. UBS Group boosted their price target on Wise Group from $16.00 to $17.25 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Wise Group from $17.30 to $17.70 and gave the stock an “overweight” rating in a report on Friday. Canaccord Genuity Group assumed coverage on Wise Group in a research note on Wednesday, September 2nd. They set a “buy” rating on the stock. Finally, Barclays raised shares of Wise Group to a “strong-buy” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.94.

Wise Group Stock Performance

WSE stock opened at $10.98 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $12.21. Wise Group has a twelve month low of $10.36 and a twelve month high of $17.47.

Wise Group (NASDAQ:WSE) last announced its quarterly earnings data on Thursday, June 25th. The company reported $0.12 EPS for the quarter. The firm had revenue of $576.48 million during the quarter. Equities research analysts forecast that Wise Group will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Wise Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi bought a new stake in shares of Wise Group in the 2nd quarter worth approximately $58,328,000. Ninety One UK Ltd grew its holdings in 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. Allianz Asset Management GmbH purchased a new stake in shares of Wise Group in the second quarter worth about $14,441,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Wise Group in the second quarter worth about $3,154,000. Finally, Citadel Advisors LLC bought a new stake in Wise Group during the 2nd 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.