WEBTOON Entertainment Inc. (NASDAQ:WBTN) Given Consensus Recommendation of "Moderate Buy" by Analysts

WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) has received an average recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $26.83.

Separately, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th.

WEBTOON Entertainment Stock Down 2.7 %

NASDAQ WBTN traded down $0.37 during trading on Tuesday, reaching $13.46. The company's stock had a trading volume of 177,484 shares, compared to its average volume of 230,321. The stock has a fifty day moving average of $12.28. WEBTOON Entertainment has a one year low of $10.05 and a one year high of $25.66.

Hedge Funds Weigh In On WEBTOON Entertainment

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. purchased a new position in WEBTOON Entertainment in the 2nd quarter worth $32,145,000. WINTON GROUP Ltd bought a new position in shares of WEBTOON Entertainment during the second quarter valued at about $413,000. Hood River Capital Management LLC purchased a new position in shares of WEBTOON Entertainment in the second quarter worth about $10,352,000. Davidson Kempner Capital Management LP bought a new stake in shares of WEBTOON Entertainment in the 2nd quarter valued at about $1,610,000. Finally, Marshall Wace LLP bought a new stake in WEBTOON Entertainment during the 2nd quarter valued at $1,516,000.

About WEBTOON Entertainment

WEBTOON Entertainment Inc operates a storytelling platform worldwide. The company's platform allows a community of creators and users to discover, create, and share new content. Its platform offers stories primarily in two ways, including web-comics, a graphical comic-like medium; and web-novels, which are text-based stories.