Weibo (NASDAQ:WB) Shares Gap Down – Here’s What Happened

Weibo Co. (NASDAQ:WB) shares gapped down before the market opened on Wednesday . The stock had previously closed at $10.97, but opened at $10.56. Weibo shares last traded at $10.76, with a volume of 214,903 shares changing hands.

Analysts Set New Price Targets

WB has been the topic of a number of recent analyst reports. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Benchmark restated a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Weibo presently has a consensus rating of “Hold” and an average price target of $10.28.

Weibo Stock Down 2.6 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57. The stock’s 50-day moving average price is $10.11 and its two-hundred day moving average price is $9.43. The stock has a market capitalization of $2.59 billion, a PE ratio of 7.32 and a beta of 0.27.

Institutional Trading of Weibo

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in shares of Weibo by 155.2% during the fourth quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 1,642 shares in the last quarter. Shell Asset Management Co. purchased a new position in shares of Weibo during the 4th quarter valued at about $54,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Weibo in the fourth quarter worth $70,000. PARUS FINANCE UK Ltd purchased a new position in shares of Weibo in the fourth quarter valued at about $99,000. Finally, Creative Planning purchased a new position in Weibo in the 3rd quarter worth approximately $112,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Weibo Company Profile

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.