WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) shares fell 4.5% during trading on Monday . The company traded as low as $9.36 and last traded at $9.37. 99,712 shares were traded during mid-day trading, a decline of 73% from the average session volume of 366,138 shares. The stock had previously closed at $9.81.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on WBTN. Citigroup began coverage on WEBTOON Entertainment in a report on Thursday, May 15th. They issued a "buy" rating and a $11.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on WEBTOON Entertainment from $15.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Evercore ISI decreased their price objective on WEBTOON Entertainment from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, May 14th. JPMorgan Chase & Co. decreased their price objective on WEBTOON Entertainment from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley decreased their price objective on WEBTOON Entertainment from $13.00 to $10.50 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $14.36.
Read Our Latest Report on WEBTOON Entertainment
WEBTOON Entertainment Stock Down 4.7%
The company has a market cap of $1.22 billion and a PE ratio of -6.49. The business has a 50-day simple moving average of $8.94 and a 200-day simple moving average of $9.83.
Institutional Trading of WEBTOON Entertainment
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new stake in WEBTOON Entertainment in the fourth quarter valued at approximately $54,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in shares of WEBTOON Entertainment during the first quarter worth $58,000. Wells Fargo & Company MN increased its position in shares of WEBTOON Entertainment by 37.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,168 shares of the company's stock worth $111,000 after acquiring an additional 2,240 shares during the period. Invesco Ltd. purchased a new stake in shares of WEBTOON Entertainment during the first quarter worth $123,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of WEBTOON Entertainment during the first quarter worth $129,000.
About WEBTOON Entertainment
(
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WEBTOON Entertainment Inc operates a storytelling platform worldwide. The company's platform allows a community of creators and users to discover, create, and share new content. Its platform offers stories primarily in two ways, including web-comics, a graphical comic-like medium; and web-novels, which are text-based stories.
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