Weibo (NASDAQ:WB) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Weibo Corporation (NASDAQ:WB)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $7.62 and traded as low as $6.45. Weibo shares last traded at $6.49, with a volume of 643,316 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citigroup downgraded shares of Weibo from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $9.30 to $7.80 in a report on Thursday, August 20th. Bank of America reissued an “underperform” rating on shares of Weibo in a research note on Friday, August 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Weibo in a research report on Friday, July 24th. Benchmark restated a “hold” rating on shares of Weibo in a research report on Thursday, August 20th. Finally, Zacks Research lowered Weibo from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $8.80.

Weibo Stock Performance

The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average is $6.82 and its 200 day moving average is $7.62. The company has a market cap of $1.59 billion, a P/E ratio of 5.36 and a beta of 0.17.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Weibo had a net margin of 17.78% and a return on equity of 8.87%. The business had revenue of $453.83 million during the quarter, compared to the consensus estimate of $442.45 million. As a group, equities analysts predict that Weibo Corporation will post 1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Weibo

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Weibo by 41.9% in the second quarter. Wellington Management Group LLP now owns 2,363,373 shares of the information services provider’s stock valued at $17,158,000 after purchasing an additional 697,778 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Weibo by 39.6% in the first quarter. Sei Investments Co. now owns 584,557 shares of the information services provider’s stock worth $5,115,000 after purchasing an additional 165,936 shares during the last quarter. Saba Capital Management L.P. grew its holdings in shares of Weibo by 21.0% in the first quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock worth $21,327,000 after purchasing an additional 422,294 shares during the last quarter. AIA Group Ltd increased its stake in shares of Weibo by 229.7% in the first quarter. AIA Group Ltd now owns 103,579 shares of the information services provider’s stock worth $906,000 after buying an additional 72,159 shares during the period. Finally, Headlands Technologies LLC increased its stake in shares of Weibo by 150.0% in the second quarter. Headlands Technologies LLC now owns 119,350 shares of the information services provider’s stock worth $866,000 after buying an additional 71,607 shares during the period. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Company Profile

Weibo Corp. (NASDAQ: WB) operates a Chinese-language social media platform that enables users to create, share and discover content through short posts, videos, images, live streams and other multimedia formats. The platform supports public conversations, following relationships, trending topics and content distribution across entertainment, news, sports, technology and other categories.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and brand campaigns.