Weibo (NASDAQ:WB) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?
by Renee Jackson · The Cerbat GemShares of Weibo Corporation (NASDAQ:WB – Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.89 and traded as low as $9.50. Weibo shares last traded at $9.63, with a volume of 1,188,686 shares traded.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “hold (c)” rating on shares of Weibo in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Weibo currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.
Read Our Latest Stock Analysis on WB
Weibo Stock Performance
The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 5.45, a PEG ratio of 5.17 and a beta of 0.13. The firm has a 50 day moving average price of $10.39 and a 200-day moving average price of $10.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.35 and a quick ratio of 3.35.
Hedge Funds Weigh In On Weibo
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WealthCollab LLC raised its holdings in Weibo by 50.1% in the fourth quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock valued at $52,000 after acquiring an additional 1,709 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Weibo in the 2nd quarter valued at approximately $61,000. FourThought Financial Partners LLC purchased a new stake in shares of Weibo in the 4th quarter valued at approximately $110,000. AQR Capital Management LLC acquired a new stake in shares of Weibo in the 1st quarter valued at $117,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Weibo during the 2nd quarter worth $136,000. 68.77% of the stock is owned by institutional investors and hedge funds.
Weibo Company Profile
Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.
Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.