Weibo (NASDAQ:WB) Shares Up 6.7% - Still a Buy?

Shares of Weibo Co. (NASDAQ:WB - Get Free Report) were up 6.7% during trading on Thursday . The stock traded as high as $10.94 and last traded at $10.91. Approximately 792,203 shares were traded during trading, a decline of 10% from the average daily volume of 882,648 shares. The stock had previously closed at $10.22.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Benchmark reissued a "hold" rating on shares of Weibo in a research note on Wednesday, November 20th. StockNews.com upgraded Weibo from a "hold" rating to a "buy" rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Weibo presently has an average rating of "Hold" and an average price target of $10.28.

Weibo Trading Up 1.4 %

The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.65 billion, a PE ratio of 7.47 and a beta of 0.26. The firm has a fifty day simple moving average of $9.79 and a two-hundred day simple moving average of $8.99.

Institutional Investors Weigh In On Weibo

Large investors have recently modified their holdings of the stock. Polunin Capital Partners Ltd bought a new position in Weibo in the third quarter worth $5,064,000. Citigroup Inc. grew its position in shares of Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider's stock worth $6,077,000 after buying an additional 468,072 shares during the period. E Fund Management Co. Ltd. increased its stake in shares of Weibo by 1,003.7% in the 4th quarter. E Fund Management Co. Ltd. now owns 458,206 shares of the information services provider's stock worth $4,376,000 after acquiring an additional 416,690 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Weibo during the 3rd quarter valued at about $3,696,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 worth $2,845,000 after acquiring an additional 105,780 shares in the last quarter. Institutional investors own 68.77% of the company's stock.

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.