Weibo (NASDAQ:WB) Sees Unusually-High Trading Volume – Still a Buy?

Weibo Co. (NASDAQ:WB) shares saw unusually-high trading volume on Tuesday . Approximately 790,003 shares changed hands during mid-day trading, a decline of 29% from the previous session’s volume of 1,108,961 shares.The stock last traded at $10.62 and had previously closed at $11.10.

Wall Street Analysts Forecast Growth

WB has been the subject of a number of research reports. Benchmark reissued a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Weibo presently has a consensus rating of “Hold” and a consensus price target of $10.28.

Weibo Stock Down 2.4 %

The business’s fifty day simple moving average is $9.90 and its 200 day simple moving average is $9.12. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 7.42 and a beta of 0.26.

Institutional Trading of Weibo

A number of institutional investors have recently bought and sold shares of the business. SIH Partners LLLP grew its holdings in Weibo by 8.0% during the 4th quarter. SIH Partners LLLP now owns 20,200 shares of the information services provider’s stock worth $193,000 after acquiring an additional 1,500 shares during the period. Blue Trust Inc. boosted its position in shares of Weibo by 155.2% during the fourth quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider’s stock worth $27,000 after purchasing an additional 1,642 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Weibo by 17.4% during the third 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 in the last quarter. Franklin Resources Inc. boosted its position in shares of Weibo by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 29,986 shares of the information services provider’s stock worth $286,000 after purchasing an additional 2,522 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Weibo by 26.5% during the fourth quarter. Ameriprise Financial Inc. now owns 15,780 shares of the information services provider’s stock worth $151,000 after purchasing an additional 3,307 shares in the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

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.