Shares of Weibo Corp (NASDAQ:WB) shot up 5.8% during trading on Monday . The stock traded as high as $50.40 and last traded at $49.61, 4,757,034 shares traded hands during mid-day trading. An increase of 109% from the average session volume of 2,277,760 shares. The stock had previously closed at $46.90.
WB has been the topic of a number of recent research reports. ValuEngine raised shares of Weibo from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 20th. TheStreet downgraded shares of Weibo from a “b-” rating to a “c+” rating in a report on Friday, May 31st. Benchmark reaffirmed a “buy” rating and set a $51.00 target price (down from $81.00) on shares of Weibo in a report on Friday, May 24th. Jefferies Financial Group initiated coverage on shares of Weibo in a report on Monday, August 5th. They set a “hold” rating and a $43.60 target price on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Weibo from an “overweight” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $56.79.
The company has a debt-to-equity ratio of 0.44, a current ratio of 3.58 and a quick ratio of 3.58. The stock has a market cap of $11.20 billion, a P/E ratio of 19.77 and a beta of 2.22. The business’s fifty day moving average price is $40.28 and its 200 day moving average price is $51.94.
A number of hedge funds and other institutional investors have recently made changes to their positions in WB. Private Capital Group LLC acquired a new stake in Weibo during the 2nd quarter valued at approximately $36,000. Cornerstone Advisors Inc. bought a new position in shares of Weibo in the 1st quarter worth $35,000. Bremer Bank National Association bought a new position in shares of Weibo in the 1st quarter worth $107,000. Northwestern Mutual Wealth Management Co. grew its position in Weibo by 49.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,278 shares of the information services provider’s stock valued at $203,000 after purchasing an additional 1,087 shares during the period. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in Weibo in the 2nd quarter valued at $144,000. Hedge funds and other institutional investors own 25.92% of the company’s stock.
Weibo Company Profile (NASDAQ:WB)
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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