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

Shares of Weibo Co. (NASDAQ:WB) traded up 4.7% during trading on Tuesday . The stock traded as high as $10.55 and last traded at $10.50. 389,270 shares traded hands during trading, a decline of 80% from the average session volume of 1,992,656 shares. The stock had previously closed at $10.03.

Analyst Ratings Changes

A number of research analysts have commented on the company. Nomura Securities upgraded Weibo to a “hold” rating in a research note on Monday, August 26th. Citigroup increased their price objective on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Benchmark restated a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Finally, Morgan Stanley decreased their price objective on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.23.

Weibo Trading Up 2.7 %

The stock has a market cap of $2.41 billion, a P/E ratio of 7.04 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. The business’s fifty day simple moving average is $9.35 and its 200 day simple moving average is $8.58.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. DGS Capital Management LLC lifted its stake in shares of Weibo by 89.0% in the 3rd quarter. DGS Capital Management LLC now owns 61,910 shares of the information services provider’s stock valued at $624,000 after purchasing an additional 29,155 shares during the period. Franklin Resources Inc. lifted its stake in Weibo by 16.5% in the third quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock valued at $266,000 after buying an additional 3,884 shares during the period. Geode Capital Management LLC boosted its holdings in Weibo by 78.1% during the third quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock worth $2,252,000 after buying an additional 98,017 shares during the last quarter. Barclays PLC grew its position in shares of Weibo by 13.8% during the 3rd quarter. Barclays PLC now owns 212,919 shares of the information services provider’s stock worth $2,146,000 after buying an additional 25,750 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Weibo in the 3rd quarter valued at about $3,696,000. Institutional investors 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.