Weibo (NASDAQ:WB) Trading Up 4.7% – Here’s Why

Weibo Co. (NASDAQ:WB)’s share price was up 4.7% during mid-day trading on Tuesday . The stock traded as high as $10.55 and last traded at $10.50. Approximately 389,270 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,992,656 shares. The stock had previously closed at $10.03.

Analyst Ratings Changes

Several equities research analysts have commented on WB shares. Benchmark reiterated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. Citigroup increased their price target on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Morgan Stanley cut their price objective on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Finally, Nomura Securities upgraded shares of Weibo to a “hold” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.23.

Weibo Stock Performance

The firm’s fifty day moving average price is $9.35 and its 200-day moving average price is $8.56. The company has a market cap of $2.47 billion, a P/E ratio of 7.18 and a beta of 0.27. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Seven Eight Capital LP bought a new stake in shares of Weibo during the second quarter worth $110,000. Creative Planning acquired a new stake in Weibo in the third quarter worth about $112,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Weibo by 17.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after purchasing an additional 1,970 shares during the last quarter. Diversified Trust Co acquired a new position in Weibo during the 3rd quarter valued at about $194,000. Finally, Franklin Resources Inc. grew its position in shares of Weibo by 16.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock worth $266,000 after buying an additional 3,884 shares during the period. 68.77% of the stock is owned by institutional investors.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.