Weibo Co. (NASDAQ:WB - Get Free Report) shares were down 3.2% during trading on Thursday . The company traded as low as $9.12 and last traded at $9.15. Approximately 322,266 shares changed hands during trading, a decline of 86% from the average daily volume of 2,222,979 shares. The stock had previously closed at $9.45.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on WB shares. UBS Group upgraded Weibo from a "neutral" rating to a "buy" rating and dropped their price target for the company from $12.90 to $11.50 in a research report on Tuesday, March 19th. HSBC dropped their price objective on Weibo from $13.60 to $9.80 and set a "hold" rating for the company in a report on Friday, March 15th. Bank of America downgraded Weibo from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $19.50 to $10.00 in a report on Thursday, January 11th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $10.60 price target on shares of Weibo in a report on Thursday, March 28th. Finally, StockNews.com cut shares of Weibo from a "buy" rating to a "hold" rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $11.98.
View Our Latest Analysis on WB
Weibo Stock Down 4.4 %
The firm's 50 day simple moving average is $9.06 and its 200 day simple moving average is $10.34. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 6.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.44. The company has a quick ratio of 2.38, a current ratio of 2.51 and a debt-to-equity ratio of 0.54.
Weibo Cuts Dividend
The business also recently disclosed a -- dividend, which will be paid on Monday, May 13th. Investors of record on Friday, April 12th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, April 11th.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Toroso Investments LLC grew its position in Weibo by 2.9% in the first quarter. Toroso Investments LLC now owns 19,319 shares of the information services provider's stock worth $474,000 after buying an additional 546 shares during the last quarter. Advisor Group Holdings Inc. grew its position in Weibo by 88.9% in the first quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider's stock worth $35,000 after buying an additional 651 shares during the last quarter. abrdn plc grew its position in Weibo by 7.6% in the third quarter. abrdn plc now owns 11,710 shares of the information services provider's stock worth $147,000 after buying an additional 829 shares during the last quarter. Franklin Resources Inc. grew its position in Weibo by 6.5% in the second quarter. Franklin Resources Inc. now owns 13,923 shares of the information services provider's stock worth $183,000 after buying an additional 844 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in Weibo by 16.8% in the second quarter. Osaic Holdings Inc. now owns 7,113 shares of the information services provider's stock worth $87,000 after buying an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 68.77% of the company's stock.
About Weibo
(
Get Free Report)
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.
Further Reading
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