The stock of WMIH Corp. (NASDAQ:WMIH) hit a new 52-week low and has $1.76 target or 14.00% below today’s $2.05 share price. The 5 months bearish chart indicates high risk for the $433.40 million company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $1.76 price target is reached, the company will be worth $60.68 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 140,857 shares traded hands. WMIH Corp. (NASDAQ:WMIH) has declined 9.87% since March 29, 2016 and is downtrending. It has underperformed by 13.35% the S&P500.
Analysts await WMIH Corp. (NASDAQ:WMIH) to report earnings on November, 4.
According to Zacks Investment Research, “WMIH Corp., operates through its subsidiary, WM Mortgage Reinsurance Company Inc., is involved in reinsurance of mortgage insurance policies in runoff mode. WMIH Corp. is headquartered in Seattle, Washington.”
More notable recent WMIH Corp. (NASDAQ:WMIH) news were published by: Prnewswire.com which released: “WMIH Corp. Joins Russell 2000® Index” on June 28, 2016, also Marketwatch.com with their article: “WMIH Corp.” published on April 25, 2012, Seekingalpha.com published: “WMIH Corp.: A Top Pick For 2016” on January 27, 2016. More interesting news about WMIH Corp. (NASDAQ:WMIH) were released by: Prnewswire.com and their article: “Insurance Stocks Under Scanner — Allstate, Travelers, WMIH Corp., and First …” published on October 07, 2016 as well as Seekingalpha.com‘s news article titled: “Dissecting The Washington Mutual KKR Deal” with publication date: December 15, 2013.
WMIH Company Profile
WMIH Corp. (WMIH), incorporated on February 25, 2015, is a holding company. The Firm is the direct parent of WM Mortgage Reinsurance Company, Inc. (WMMRC) and WMI Investment Corp. (WMIIC). The Company’s business activities consist of operating WMMRC’s legacy reinsurance business in runoff mode. The Firm intends to continue to seek, identify and evaluate acquisition opportunities of varying sizes across an array of industries for the purpose of facilitating an acquisition of one or more operating businesses.
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