Weibo (NASDAQ:WB) Hits New 1-Year Low – Here’s What Happened

Weibo Corporation (NASDAQ:WB) hit a new 52-week low during trading on Tuesday . The company traded as low as $7.30 and last traded at $7.36, with a volume of 2015990 shares trading hands. The stock had previously closed at $7.33.

Wall Street Analyst Weigh In

Several research analysts have commented on WB shares. Weiss Ratings downgraded shares of Weibo from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $9.80 target price on shares of Weibo in a report on Thursday, May 28th. Finally, Zacks Research downgraded shares of Weibo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Weibo currently has an average rating of “Hold” and a consensus target price of $11.90.

Weibo Trading Up 0.4%

The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.81 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 4.41 and a beta of 0.20. The stock’s fifty day moving average price is $8.17 and its two-hundred day moving average price is $9.34.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, May 28th. The information services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Weibo had a net margin of 21.15% and a return on equity of 9.90%. The business had revenue of $421.33 million for the quarter, compared to analysts’ expectations of $416.76 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Weibo Corporation will post 1.26 earnings per share for the current year.

Institutional Investors Weigh In On Weibo

Large investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of Weibo by 45.9% during the first quarter. Bank of America Corp DE now owns 35,307 shares of the information services provider’s stock valued at $309,000 after buying an additional 11,109 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Weibo by 337.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after acquiring an additional 2,990 shares during the period. Saba Capital Management L.P. lifted its stake in Weibo by 21.0% in the first quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock worth $21,327,000 after acquiring an additional 422,294 shares during the period. Sei Investments Co. boosted its holdings in Weibo by 39.6% in the first quarter. Sei Investments Co. now owns 584,557 shares of the information services provider’s stock valued at $5,115,000 after acquiring an additional 165,936 shares in the last quarter. Finally, AIA Group Ltd boosted its holdings in Weibo by 229.7% in the first quarter. AIA Group Ltd now owns 103,579 shares of the information services provider’s stock valued at $906,000 after acquiring an additional 72,159 shares in the last quarter. 68.77% of the stock is currently owned by institutional investors.

About Weibo

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.