Shares of Weibo Co. (NASDAQ:WB – Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $9.31, but opened at $9.59. Weibo shares last traded at $9.37, with a volume of 186,850 shares.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Bank of America lowered shares of Weibo from a “buy” rating to an “underperform” rating and dropped their target price for the company from $19.50 to $10.00 in a report on Thursday, January 11th. StockNews.com downgraded Weibo from a “buy” rating to a “hold” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.53.
Weibo Stock Performance
The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.38 and a current ratio of 2.38. The company has a 50 day moving average price of $9.38 and a 200 day moving average price of $11.18. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 5.63, a P/E/G ratio of 1.34 and a beta of 0.43.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. ARGA Investment Management LP raised its stake in shares of Weibo by 14.5% during the 4th quarter. ARGA Investment Management LP now owns 6,825,571 shares of the information services provider’s stock worth $74,740,000 after purchasing an additional 864,120 shares during the period. Federated Hermes Inc. grew its position in shares of Weibo by 3.5% during the 4th quarter. Federated Hermes Inc. now owns 5,290,626 shares of the information services provider’s stock valued at $57,932,000 after acquiring an additional 179,482 shares during the period. UBS Group AG increased its stake in shares of Weibo by 149.2% during the 1st quarter. UBS Group AG now owns 5,059,287 shares of the information services provider’s stock worth $124,002,000 after purchasing an additional 3,029,114 shares during the last quarter. BlackRock Inc. lifted its stake in Weibo by 10.1% in the first quarter. BlackRock Inc. now owns 3,716,600 shares of the information services provider’s stock valued at $74,555,000 after purchasing an additional 340,154 shares during the last quarter. Finally, Krane Funds Advisors LLC grew its holdings in Weibo by 14.4% during the third quarter. Krane Funds Advisors LLC now owns 3,188,994 shares of the information services provider’s stock valued at $39,990,000 after purchasing an additional 401,004 shares during the period. Institutional investors own 29.81% of the company’s stock.
About Weibo
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.