Weibo Co. (NASDAQ:WB – Get Free Report)’s stock price traded up 4.4% during mid-day trading on Tuesday . The stock traded as high as $9.89 and last traded at $9.66. 354,092 shares were traded during trading, a decline of 83% from the average session volume of 2,136,182 shares. The stock had previously closed at $9.25.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. Bank of America downgraded shares of Weibo from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $19.50 to $10.00 in a research note on Thursday, January 11th. StockNews.com downgraded shares of Weibo from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Weibo currently has an average rating of “Hold” and an average target price of $14.53.
Weibo Price Performance
The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 1.36 and a beta of 0.43. The stock’s 50 day moving average price is $9.01 and its two-hundred day moving average price is $10.74.
Hedge Funds Weigh In On Weibo
Hedge funds have recently bought and sold shares of the business. UBS Group AG increased its position in Weibo by 1,360.0% during the third quarter. UBS Group AG now owns 2,268,124 shares of the information services provider’s stock worth $28,442,000 after buying an additional 2,112,773 shares during the last quarter. SeaTown Holdings Pte. Ltd. increased its position in Weibo by 75.0% during the third quarter. SeaTown Holdings Pte. Ltd. now owns 350,000 shares of the information services provider’s stock worth $4,389,000 after buying an additional 150,000 shares during the last quarter. Quadrature Capital Ltd increased its position in Weibo by 38.2% during the third quarter. Quadrature Capital Ltd now owns 32,887 shares of the information services provider’s stock worth $413,000 after buying an additional 9,093 shares during the last quarter. Aviva PLC boosted its holdings in Weibo by 6.8% during the third quarter. Aviva PLC now owns 47,259 shares of the information services provider’s stock valued at $593,000 after acquiring an additional 3,000 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in Weibo during the third quarter valued at about $1,181,000. 29.81% of the stock is owned by institutional investors and hedge funds.
Weibo Company Profile
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.