WEBTOON Entertainment Inc. (NASDAQ:WBTN - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $13.49, but opened at $12.00. WEBTOON Entertainment shares last traded at $11.35, with a volume of 476,783 shares.
Analyst Upgrades and Downgrades
WBTN has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped their target price on shares of WEBTOON Entertainment from $48.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Finally, Morgan Stanley decreased their price objective on shares of WEBTOON Entertainment from $17.50 to $16.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.67.
Check Out Our Latest Stock Analysis on WBTN
WEBTOON Entertainment Price Performance
The stock's 50-day simple moving average is $13.06 and its two-hundred day simple moving average is $12.79.
Hedge Funds Weigh In On WEBTOON Entertainment
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in shares of WEBTOON Entertainment in the third quarter valued at $45,000. Rhumbline Advisers raised its stake in shares of WEBTOON Entertainment by 24.4% in the fourth quarter. Rhumbline Advisers now owns 21,423 shares of the company's stock valued at $291,000 after acquiring an additional 4,206 shares during the period. New York State Common Retirement Fund purchased a new stake in shares of WEBTOON Entertainment in the fourth quarter valued at $60,000. JPMorgan Chase & Co. purchased a new stake in shares of WEBTOON Entertainment in the third quarter valued at $75,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of WEBTOON Entertainment in the third quarter valued at $107,000.
WEBTOON Entertainment Company Profile
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Get Free Report)
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.
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