IWG’s shares hit a 52-week low on Wednesday, trading at $2.32 per share.
The flexible office giant’s shares have been volatile in recent months due to various external factors, including disappointing stock performance across the board, the war in Ukraine, and strict Covid policies forcing the closure of their spaces.
As a result, analysts are recommending that IWG needs to take action in order to improve its share price. For instance, the Royal Bank of Canada reissued a target price of $3.68 per share in a research note last March.
In April, insider Francois Pauly bought 5,000 shares of IWG’s stock at an average price of $2.88 per share.
IWG isn’t alone in its stock woes. Analysts around the world have warned that many economies may be approaching recession status.
The pressures of inflation have led both consumers and large corporations to cut back on spending, inevitably impacting investor confidence in the flexible office industry as a whole.
