500.com (WBAI) Hits New 52-Week Low at $9.00

Shares of 500.com Ltd (NYSE:WBAI) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.00 and last traded at $9.04, with a volume of 3739 shares trading hands. The stock had previously closed at $10.25.

Separately, ValuEngine lowered 500.com from a “buy” rating to a “hold” rating in a research note on Friday, September 7th.

500.com (NYSE:WBAI) last issued its earnings results on Friday, July 27th. The company reported ($0.19) earnings per share (EPS) for the quarter. 500.com had a negative net margin of 195.75% and a negative return on equity of 22.25%. The firm had revenue of $4.59 million during the quarter.

Large investors have recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC purchased a new position in 500.com during the second quarter worth about $611,000. Millennium Management LLC purchased a new position in 500.com during the first quarter worth about $228,000. Engineers Gate Manager LP purchased a new position in 500.com during the second quarter worth about $177,000. Finally, BlackRock Inc. grew its position in 500.com by 2.7% during the first quarter. BlackRock Inc. now owns 156,856 shares of the company’s stock worth $2,692,000 after buying an additional 4,160 shares in the last quarter. Institutional investors own 11.68% of the company’s stock.

About 500.com (NYSE:WBAI)

500.com Limited, through its subsidiaries, provides online gaming services primarily in the People's Republic of China and Europe. It operates online gaming sites, such as Multilotto.com or Multilotto.net in Curacao, Malta, the United Kingdom, and Ireland, as well as provides users with various casino services, including online slot machines and online table games.

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