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

WeWork Inc. (NYSE:WE – Get Rating)’s share price gapped up prior to trading 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 changing hands.

WeWork Price Performance

The company has a market cap of $713.21 million, a PE ratio of -0.37 and a beta of 1.65. The company has a fifty day moving average price of $1.47 and a 200 day moving average price of $2.21.

WeWork (NYSE:WE – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.19). The business had revenue of $848.00 million during the quarter, compared to analyst estimates of $847.34 million. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, sell-side analysts predict that WeWork Inc. will post -1.37 EPS for the current fiscal year.

Institutional Trading of WeWork

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Assets Investment Management LLC boosted its stake in shares of WeWork by 35.5% during the third quarter. American Assets Investment Management LLC now owns 157,815 shares of the company’s stock valued at $418,000 after purchasing an additional 41,320 shares during the period. Delphia USA Inc. purchased a new stake in shares of WeWork during the second quarter valued at approximately $220,000. First Capital Advisors Group LLC. purchased a new stake in shares of WeWork during the third quarter valued at approximately $120,000. Nisa Investment Advisors LLC boosted its stake in shares of WeWork by 87.3% during the third quarter. Nisa Investment Advisors LLC now owns 113,249 shares of the company’s stock valued at $298,000 after purchasing an additional 52,774 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of WeWork during the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

About WeWork

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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.