Weibo (NASDAQ:WB) Stock Price Passes Above 50 Day Moving Average - Here's What Happened

Weibo Co. (NASDAQ:WB - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.53 and traded as high as $9.58. Weibo shares last traded at $9.34, with a volume of 484,073 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WB. Benchmark reissued a "hold" rating on shares of Weibo in a report on Wednesday, November 20th. Citigroup increased their price target on shares of Weibo from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Monday, September 30th. 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 assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $10.28.

Weibo Trading Up 4.8 %

The firm's 50 day moving average is $9.53 and its 200 day moving average is $8.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57. The company has a market capitalization of $2.25 billion, a PE ratio of 6.71 and a beta of 0.26.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Weibo by 60.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider's stock valued at $2,845,000 after purchasing an additional 105,780 shares in the last quarter. Citigroup Inc. lifted its position in Weibo by 347.3% during the third quarter. Citigroup Inc. now owns 602,853 shares of the information services provider's stock valued at $6,077,000 after buying an additional 468,072 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Weibo by 78.1% during the 3rd quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider's stock valued at $2,252,000 after buying an additional 98,017 shares in the last quarter. Polunin Capital Partners Ltd purchased a new stake in shares of Weibo in the 3rd quarter worth about $5,064,000. Finally, Barclays PLC grew its position in shares of Weibo by 13.8% in the 3rd quarter. Barclays PLC now owns 212,919 shares of the information services provider's stock worth $2,146,000 after buying an additional 25,750 shares during the period. 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, 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.