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

Weibo Co. (NASDAQ:WB)’s share price gapped up before the market opened on Friday . The stock had previously closed at $11.05, but opened at $11.56. Weibo shares last traded at $11.64, with a volume of 730,284 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WB. Benchmark reiterated a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.28.

Weibo Stock Up 2.2 %

The firm has a market cap of $2.74 billion, a P/E ratio of 7.70 and a beta of 0.26. The firm’s fifty day moving average is $9.93 and its 200 day moving average is $9.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Weibo by 60.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider’s stock valued at $2,845,000 after buying an additional 105,780 shares in the last quarter. Citigroup Inc. increased its position in Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock valued at $6,077,000 after acquiring an additional 468,072 shares during the period. Geode Capital Management LLC grew its stake in shares of Weibo by 78.1% in the third quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock worth $2,252,000 after purchasing an additional 98,017 shares during the last quarter. Caprock Group LLC acquired a new position in Weibo during the 4th quarter worth about $229,000. Finally, Polunin Capital Partners Ltd acquired a new stake in shares of Weibo in the third quarter valued at about $5,064,000. 68.77% of the stock is owned by institutional investors and hedge funds.

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.