Weibo (NASDAQ:WB) Shares Gap Down – Should You Sell?

Weibo Co. (NASDAQ:WB) gapped down prior to trading on Tuesday . The stock had previously closed at $10.91, but opened at $10.52. Weibo shares last traded at $10.39, with a volume of 230,989 shares changing hands.

Analyst Ratings Changes

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

Weibo Price Performance

The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 7.10 and a beta of 0.26. The company’s 50 day moving average is $9.79 and its 200 day moving average is $8.99. 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

Large investors have recently modified their holdings of the stock. Polunin Capital Partners Ltd acquired a new position in shares of Weibo in the third quarter valued at approximately $5,064,000. Citigroup Inc. grew its holdings in Weibo by 347.3% in the third quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after purchasing an additional 468,072 shares during the period. E Fund Management Co. Ltd. increased its stake in Weibo by 1,003.7% in the fourth quarter. E Fund Management Co. Ltd. now owns 458,206 shares of the information services provider’s stock valued at $4,376,000 after purchasing an additional 416,690 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Weibo during the third quarter valued at about $3,696,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Weibo by 60.0% during the 3rd 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 worth $2,845,000 after purchasing an additional 105,780 shares in the last quarter. 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.