WW Stock Brushes Off Bull Note

The equity is still eyeing a weekly win, however

by Lillian Currens

Published on Mar 27, 2020 at 10:57 AM
Updated on Mar 27, 2020 at 11:24 AM

Weight Watchers parent WW International Inc (NASDAQ:WW) is getting dragged lower, along with the broader market, down 9.8% at $15.22, despite an upgrade to "overweight" from "equal weight" from Morgan Stanley. The analyst predicted a post-coronavirus surge in focus on health and wellness after an extended period of inactivity due to self-isolation. 

While WW broke above pressure at its 10-day moving average earlier this week, the shares have been consolidating just below the $17.50 region since. And while the weight loss name is still eyeing a weekly win of 7.3%, WW is down roughly 60% for the year. 

Sentiment surrounding WW has skewed lukewarm, with six of the 10 analysts in coverage calling the equity a "hold" or worse. On the other hand, the consensus 12-month price target of $32.82 is more than double current levels. 

Bearish bets have been picking up in the options pits. WW sports a 50-day put/call volume ratio of 1.01 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 96th percentile of its annual range. This means long puts have been picked up at a much quicker-than-usual clip. 


A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
Google Postpones Android Reveal, "Now is Not the Time to Celebrate"
"Now is not the time to celebrate," Google said in a message on its website
ZNGA Zooms to 8-Year High on Billion-Dollar Deal
ZNGA is planning to buy Peak for $1.8 billion
Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....