Weibo (NASDAQ:WB) Trading Up 6.7% – Time to Buy?

Shares of Weibo Co. (NASDAQ:WB) traded up 6.7% on Thursday . The company traded as high as $10.94 and last traded at $10.91. 792,203 shares were traded during mid-day trading, a decline of 10% from the average session volume of 882,648 shares. The stock had previously closed at $10.22.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Benchmark reiterated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Weibo presently has an average rating of “Hold” and an average target price of $10.28.

Weibo Stock Performance

The stock has a fifty day moving average of $9.77 and a 200-day moving average of $8.95. The firm has a market capitalization of $2.61 billion, a P/E ratio of 7.37 and a beta of 0.26. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51.

Institutional Trading of Weibo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Weibo by 155.2% during the 4th quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider’s stock worth $27,000 after purchasing an additional 1,642 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in Weibo during the fourth quarter worth approximately $70,000. Creative Planning bought a new stake in Weibo in the third quarter valued at approximately $112,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after buying an additional 1,970 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Weibo during the 4th quarter worth approximately $167,000. Institutional investors and hedge funds 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.