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

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 trading hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Benchmark restated a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.28.

Weibo Stock Performance

The company’s 50-day moving average is $9.79 and its two-hundred 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. The company has a market cap of $2.52 billion, a P/E ratio of 7.10 and a beta of 0.26.

Institutional Investors Weigh In On Weibo

Large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Weibo by 60.0% during 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 purchasing an additional 105,780 shares during the period. Citigroup Inc. grew its stake in shares of Weibo by 347.3% during the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after acquiring an additional 468,072 shares during the period. Geode Capital Management LLC increased its holdings in Weibo by 78.1% in the 3rd quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock worth $2,252,000 after acquiring an additional 98,017 shares during the last quarter. Polunin Capital Partners Ltd bought a new stake in Weibo in the 3rd quarter valued at about $5,064,000. Finally, Caprock Group LLC purchased a new stake in Weibo during the fourth quarter valued at about $229,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

About Weibo

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.