WEBTOON Entertainment (NASDAQ:WBTN) Trading Down 5.9% – Here’s What Happened

WEBTOON Entertainment Inc. (NASDAQ:WBTN) shares traded down 5.9% during trading on Wednesday . The company traded as low as $11.71 and last traded at $11.66. 115,149 shares were traded during mid-day trading, a decline of 66% from the average session volume of 336,360 shares. The stock had previously closed at $12.39.

Analysts Set New Price Targets

A number of research analysts have issued reports on WBTN shares. Evercore reiterated an “outperform” rating and set a $15.00 price objective on shares of WEBTOON Entertainment in a research note on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of WEBTOON Entertainment in a report on Monday, April 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.00 price target on shares of WEBTOON Entertainment in a research note on Thursday, March 5th. HSBC lowered shares of WEBTOON Entertainment from a “buy” rating to a “hold” rating and set a $11.50 price objective for the company. in a research note on Wednesday, March 4th. Finally, Wall Street Zen raised shares of WEBTOON Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, WEBTOON Entertainment presently has an average rating of “Hold” and an average price target of $15.75.

WEBTOON Entertainment Price Performance

The stock has a market cap of $1.56 billion, a PE ratio of -4.53 and a beta of 2.48. The company has a 50 day moving average price of $11.94 and a two-hundred day moving average price of $11.83.

Hedge Funds Weigh In On WEBTOON Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. purchased a new stake in shares of WEBTOON Entertainment during the 1st quarter valued at about $123,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of WEBTOON Entertainment during the first quarter valued at approximately $228,000. Dynamic Technology Lab Private Ltd bought a new position in WEBTOON Entertainment during the first quarter valued at approximately $129,000. Jane Street Group LLC bought a new position in WEBTOON Entertainment during the first quarter valued at approximately $619,000. Finally, Geode Capital Management LLC boosted its holdings in WEBTOON Entertainment by 12.3% in the second quarter. Geode Capital Management LLC now owns 505,892 shares of the company’s stock worth $4,594,000 after purchasing an additional 55,434 shares during the last quarter.

About WEBTOON Entertainment

Webtoon Entertainment Inc operates WEBTOON, a leading digital comics platform offering a diverse library of user-generated and professionally produced webcomics. The company enables creators around the world to publish serialized content in a vertical-scrolling format optimized for mobile and web consumption. Through its platform, readers can access thousands of titles across genres such as romance, fantasy, drama, and action, with both free-to-read episodes and advanced access options supported by microtransactions and advertising.

Founded as part of Naver Corporation and launched internationally in 2014, Webtoon Entertainment has grown rapidly by fostering a direct connection between comic creators and global audiences.