WeWork (NYSE:WE) Stock Price Down 11.7%

Shares of WeWork Inc. (NYSE:WEGet Rating) fell 11.7% during mid-day trading on Tuesday . The stock traded as low as $5.46 and last traded at $5.49. 304,789 shares changed hands during trading, a decline of 93% from the average session volume of 4,246,083 shares. The stock had previously closed at $6.22.

Several brokerages recently issued reports on WE. Piper Sandler began coverage on shares of WeWork in a report on Monday, April 18th. They set an “overweight” rating and a $10.00 price target for the company. Mizuho began coverage on shares of WeWork in a report on Friday, April 22nd. They set a “buy” rating and a $9.00 price target for the company.

The business’s 50-day moving average price is $6.31.

WeWork (NYSE:WEGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.15. The company had revenue of $765.00 million during the quarter, compared to analyst estimates of $768.11 million. The business’s revenue was up 27.9% on a year-over-year basis. On average, analysts predict that WeWork Inc. will post -2.31 earnings per share for the current year.

In other WeWork news, CEO Sandeep Mathrani purchased 30,000 shares of the stock in a transaction dated Tuesday, March 22nd. The stock was bought at an average price of $6.55 per share, for a total transaction of $196,500.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.80% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Tuttle Capital Management LLC bought a new position in WeWork during the 4th quarter worth approximately $138,000. Mirador Capital Partners LP bought a new position in WeWork during the 4th quarter worth approximately $317,000. Fox Run Management L.L.C. bought a new position in WeWork during the 4th quarter worth approximately $113,000. Must Asset Management Inc. bought a new position in WeWork during the 4th quarter worth approximately $233,000. Finally, Northern Trust Corp bought a new position in WeWork during the 4th quarter worth approximately $3,261,000. 81.48% of the stock is currently owned by institutional investors and hedge funds.

WeWork Company Profile (NYSE:WE)

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.

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