Weibo (NASDAQ:WB) Sees Strong Trading Volume

Weibo Co. (NASDAQ:WB) shares saw strong trading volume on Thursday . 3,480,691 shares traded hands during mid-day trading, an increase of 80% from the previous session’s volume of 1,936,397 shares.The stock last traded at $8.84 and had previously closed at $8.38.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WB. Morgan Stanley dropped their price target on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Nomura Securities raised Weibo to a “hold” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.88.

Weibo Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 1.46 and a beta of 0.22. The company’s fifty day moving average price is $7.67 and its 200 day moving average price is $8.36.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.10. The firm had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. Equities research analysts expect that Weibo Co. will post 1.48 earnings per share for the current year.

Hedge Funds Weigh In On Weibo

Several institutional investors have recently bought and sold shares of the stock. Deltec Asset Management LLC bought a new stake in shares of Weibo in the 2nd quarter worth approximately $82,000. Bayesian Capital Management LP acquired a new stake in Weibo during the 1st quarter worth $123,000. Seven Eight Capital LP acquired a new position in shares of Weibo in the 2nd quarter valued at $110,000. XY Capital Ltd acquired a new stake in Weibo in the 1st quarter valued at $140,000. Finally, DGS Capital Management LLC boosted its holdings in shares of Weibo by 92.7% in the 1st quarter. DGS Capital Management LLC now owns 44,543 shares of the information services provider’s stock valued at $405,000 after buying an additional 21,422 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, distribute, and discover 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.