Weibo (NASDAQ:WB) Shares Gap Down - What's Next?

Weibo Co. (NASDAQ:WB - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $10.46, but opened at $10.17. Weibo shares last traded at $10.22, with a volume of 29,212 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WB shares. Nomura Securities raised Weibo to a "hold" rating in a report on Monday, August 26th. Citigroup raised their target price on Weibo from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. StockNews.com raised shares of Weibo from a "hold" rating to a "buy" rating in a report on Friday, December 6th. Morgan Stanley cut their price objective on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating for the company in a research report on Friday, August 23rd. Finally, Benchmark reiterated a "hold" rating on shares of Weibo in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $10.23.

Weibo Trading Down 1.0 %

The company has a market cap of $2.43 billion, a PE ratio of 7.10 and a beta of 0.27. The company's 50 day simple moving average is $9.38 and its two-hundred day simple moving average is $8.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WB. Seven Eight Capital LP purchased a new position in shares of Weibo in the second quarter valued at approximately $110,000. Creative Planning purchased a new position in Weibo in the 3rd quarter valued at approximately $112,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider's stock worth $134,000 after acquiring an additional 1,970 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Weibo during the third quarter worth $194,000. Finally, Franklin Resources Inc. raised 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 valued at $266,000 after acquiring an additional 3,884 shares in the last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

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.