Weibo (NASDAQ:WB) Trading Up 6.9%

Shares of Weibo Co. (NASDAQ:WB - Get Free Report) traded up 6.9% during mid-day trading on Friday . The stock traded as high as $10.01 and last traded at $9.86. 2,259,714 shares changed hands during trading, an increase of 16% from the average session volume of 1,955,574 shares. The stock had previously closed at $9.22.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WB shares. Nomura Securities upgraded shares of Weibo to a "hold" rating in a research note on Monday, August 26th. Morgan Stanley decreased their target price on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating for the company in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $9.88.

Weibo Stock Performance

The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $2.32 billion, a PE ratio of 8.33, a PEG ratio of 1.46 and a beta of 0.22. The stock's fifty day simple moving average is $7.74 and its 200-day simple moving average is $8.37.

Weibo (NASDAQ:WB - Get Free Report) last issued its earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.10. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The company had revenue of $437.90 million during the quarter, compared to analysts' expectations of $437.97 million. During the same period last year, the company posted $0.42 earnings per share. The firm's quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Institutional Trading of Weibo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deltec Asset Management LLC purchased a new stake in Weibo in the 2nd quarter worth approximately $82,000. Seven Eight Capital LP acquired a new position in shares of Weibo in the 2nd quarter valued at $110,000. Bayesian Capital Management LP acquired a new position in shares of Weibo in the 1st quarter valued at $123,000. XY Capital Ltd acquired a new position in shares of Weibo in the 1st quarter valued at $140,000. Finally, Caxton Associates LP boosted its holdings in shares of Weibo by 55.9% in the 2nd quarter. Caxton Associates LP now owns 50,239 shares of the information services provider's stock valued at $386,000 after purchasing an additional 18,008 shares during the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.