Weibo (NASDAQ:WB) Sets New 1-Year Low – Here’s What Happened

Weibo Corporation (NASDAQ:WB)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.30 and last traded at $7.36, with a volume of 2015990 shares changing hands. The stock had previously closed at $7.33.

Wall Street Analyst Weigh In

WB has been the topic of a number of analyst reports. Zacks Research cut shares of Weibo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. Jefferies Financial Group restated a “buy” rating and set a $9.80 price target on shares of Weibo in a research report on Thursday, May 28th. Finally, Weiss Ratings cut Weibo from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Weibo currently has an average rating of “Hold” and an average target price of $11.90.

Weibo Trading Down 0.4%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.02 and a current ratio of 3.02. The stock’s 50-day simple moving average is $8.11 and its 200-day simple moving average is $9.30. The firm has a market capitalization of $1.79 billion, a PE ratio of 5.10, a P/E/G ratio of 4.40 and a beta of 0.20.

Weibo (NASDAQ:WB) last issued its quarterly earnings data on Thursday, May 28th. The information services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $421.33 million during the quarter, compared to the consensus estimate of $416.76 million. Weibo had a return on equity of 9.90% and a net margin of 21.15%.The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 earnings per share. As a group, sell-side analysts expect that Weibo Corporation will post 1.26 EPS for the current fiscal year.

Institutional Trading of Weibo

Institutional investors and hedge funds have recently bought and sold shares of the stock. WealthCollab LLC lifted its position in Weibo by 50.1% during the 4th quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock valued at $52,000 after acquiring an additional 1,709 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Weibo by 4.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,428 shares of the information services provider’s stock worth $514,000 after purchasing an additional 1,860 shares during the period. Vise Technologies Inc. increased its stake in shares of Weibo by 12.1% during the third quarter. Vise Technologies Inc. now owns 21,009 shares of the information services provider’s stock valued at $261,000 after purchasing an additional 2,270 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Weibo by 14.6% during the third quarter. CANADA LIFE ASSURANCE Co now owns 18,674 shares of the information services provider’s stock valued at $233,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Weibo by 1.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 229,951 shares of the information services provider’s stock worth $2,350,000 after purchasing an additional 2,463 shares in the last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

About Weibo

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.