Weibo (NASDAQ:WB) Shares Gap Down – What’s Next?

Shares of Weibo Co. (NASDAQ:WB) gapped down prior to trading on Wednesday . The stock had previously closed at $10.97, but opened at $10.56. Weibo shares last traded at $10.76, with a volume of 214,903 shares.

Analyst Ratings Changes

Several brokerages have recently issued reports on WB. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.28.

Weibo Trading Down 2.6 %

The company has a 50-day moving average of $10.11 and a 200 day moving average of $9.43. The company has a market cap of $2.59 billion, a PE ratio of 7.32 and a beta of 0.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57.

Institutional Trading of Weibo

Institutional investors have recently added to or reduced their stakes in the company. SIH Partners LLLP grew its holdings in shares of Weibo by 8.0% in the fourth quarter. SIH Partners LLLP now owns 20,200 shares of the information services provider’s stock worth $193,000 after purchasing an additional 1,500 shares during the last quarter. Blue Trust Inc. raised its stake 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 valued at $27,000 after acquiring an additional 1,642 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after purchasing an additional 1,970 shares during the period. Franklin Resources Inc. grew its stake in Weibo by 9.2% in 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. increased its holdings in Weibo by 26.5% during the 4th 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 during the period. Institutional investors own 68.77% of the company’s stock.

Weibo Company Profile

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.