Weibo (NASDAQ:WB) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Weibo Corporation (NASDAQ:WB)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.20 and traded as low as $7.25. Weibo shares last traded at $7.44, with a volume of 1,515,232 shares changing hands.

Wall Street Analyst Weigh In

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

Weibo Stock Up 2.5%

The firm has a market capitalization of $1.83 billion, a PE ratio of 5.20, a price-to-earnings-growth ratio of 4.37 and a beta of 0.21. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $7.93 and a two-hundred day moving average of $9.20.

Weibo (NASDAQ:WB) last posted 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). The firm had revenue of $421.33 million for the quarter, compared to analysts’ expectations of $416.76 million. Weibo had a net margin of 21.15% and a return on equity of 9.90%. Weibo’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. On average, equities research analysts forecast that Weibo Corporation will post 1.26 EPS for the current year.

Institutional Trading of Weibo

A number of institutional investors have recently modified their holdings of WB. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Weibo by 99.8% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,045,801 shares of the information services provider’s stock valued at $12,968,000 after purchasing an additional 522,400 shares during the period. Causeway Capital Management LLC increased its stake in Weibo by 11.7% during the 3rd quarter. Causeway Capital Management LLC now owns 2,952,249 shares of the information services provider’s stock worth $36,608,000 after buying an additional 308,531 shares during the period. Redhawk Wealth Advisors Inc. acquired a new position in Weibo in the 4th quarter worth $1,081,000. XY Capital Ltd boosted its position in Weibo by 94.1% in the 4th quarter. XY Capital Ltd now owns 198,356 shares of the information services provider’s stock valued at $2,027,000 after buying an additional 96,150 shares during the last quarter. Finally, UBS Group AG boosted its position in Weibo by 15.9% in the 4th quarter. UBS Group AG now owns 1,596,371 shares of the information services provider’s stock valued at $16,315,000 after buying an additional 218,666 shares during the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.

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.