Weibo (NASDAQ:WB) Trading Up 10.9% – What’s Next?

Weibo Co. (NASDAQ:WB) was up 10.9% during trading on Monday . The stock traded as high as $10.99 and last traded at $10.89. Approximately 988,075 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 1,987,978 shares. The stock had previously closed at $9.82.

Analyst Ratings Changes

WB has been the subject of several research analyst reports. Morgan Stanley lowered 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. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a report on Friday. Benchmark reissued a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Nomura Securities raised Weibo to a “hold” rating in a report on Monday, August 26th. Finally, Citigroup boosted their price objective on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.23.

Weibo Stock Performance

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 firm has a market cap of $2.51 billion, a PE ratio of 7.46 and a beta of 0.27. The firm’s 50 day simple moving average is $9.43 and its 200 day simple moving average is $8.50.

Institutional Trading of Weibo

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in Weibo by 21.5% during the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after purchasing an additional 9,143 shares in the last quarter. Deltec Asset Management LLC purchased a new position in Weibo in the second quarter worth $82,000. Acadian Asset Management LLC raised its stake in Weibo by 204.5% in the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock valued at $18,678,000 after buying an additional 1,634,230 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Weibo in the 2nd quarter valued at approximately $1,398,000. Finally, Krane Funds Advisors LLC raised its holdings in shares of Weibo by 17.4% in the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after buying an additional 564,068 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors.

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.