Weibo (NASDAQ:WB) Sees Unusually-High Trading Volume – Time to Buy?
by Danessa Lincoln · The Markets DailyShares of Weibo Corporation (NASDAQ:WB – Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 4,661,882 shares traded hands during mid-day trading, an increase of 298% from the previous session’s volume of 1,171,593 shares.The stock last traded at $10.3250 and had previously closed at $10.18.
Wall Street Analysts Forecast Growth
WB has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Weibo in a research report on Wednesday, January 21st. Wall Street Zen downgraded Weibo from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Weibo presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.
Read Our Latest Research Report on WB
Weibo Trading Up 1.4%
The stock has a market capitalization of $2.52 billion, a PE ratio of 5.86, a PEG ratio of 5.30 and a beta of 0.15. The stock’s 50 day moving average price is $10.45 and its 200-day moving average price is $10.90. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.48.
Hedge Funds Weigh In On Weibo
Hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC boosted its stake in Weibo by 151.7% in the 2nd quarter. Hsbc Holdings PLC now owns 180,011 shares of the information services provider’s stock worth $1,715,000 after purchasing an additional 108,506 shares during the period. American Century Companies Inc. grew its stake in Weibo by 48.7% during the second quarter. American Century Companies Inc. now owns 588,845 shares of the information services provider’s stock valued at $5,612,000 after acquiring an additional 192,955 shares in the last quarter. Virtus Advisers LLC purchased a new position in Weibo during the second quarter valued at $1,388,000. ARGA Investment Management LP bought a new stake in Weibo in the 3rd quarter valued at $647,000. Finally, New York State Common Retirement Fund lifted its stake in Weibo by 28.7% in the 2nd quarter. New York State Common Retirement Fund now owns 560,749 shares of the information services provider’s stock worth $5,344,000 after purchasing an additional 124,900 shares in the last quarter. Institutional investors own 68.77% of the company’s stock.
About Weibo
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.