Weibo (NASDAQ:WB) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Weibo Co. (NASDAQ:WB) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $9.43 and traded as high as $9.48. Weibo shares last traded at $9.43, with a volume of 822,924 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WB. Citigroup raised their target price on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Benchmark reissued a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Finally, StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.28.

Weibo Trading Up 3.8 %

The stock has a market cap of $2.28 billion, a PE ratio of 6.66 and a beta of 0.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57. The company’s 50-day moving average price is $9.46 and its 200 day moving average price is $8.78.

Institutional Trading of Weibo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DGS Capital Management LLC raised its position in Weibo by 89.0% in the third quarter. DGS Capital Management LLC now owns 61,910 shares of the information services provider’s stock valued at $624,000 after purchasing an additional 29,155 shares during the period. Franklin Resources Inc. grew its stake in shares of Weibo by 16.5% in the third quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock worth $266,000 after acquiring an additional 3,884 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Weibo by 78.1% in the third 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 in the last quarter. Barclays PLC grew its stake in shares of Weibo by 13.8% in the third quarter. Barclays PLC now owns 212,919 shares of the information services provider’s stock worth $2,146,000 after acquiring an additional 25,750 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Weibo in the third quarter worth $3,696,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

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.