Weibo (NASDAQ:WB) Shares Up 4.7% - Time to Buy?

Weibo Co. (NASDAQ:WB - Get Free Report)'s stock price shot up 4.7% during trading on Tuesday . The stock traded as high as $10.55 and last traded at $10.50. 389,270 shares traded hands during trading, a decline of 80% from the average session volume of 1,992,656 shares. The stock had previously closed at $10.03.

Analyst Ratings Changes

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

Weibo Trading Up 4.3 %

The business's 50-day moving average is $9.35 and its two-hundred day moving average is $8.56. 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 stock has a market capitalization of $2.45 billion, a PE ratio of 7.21 and a beta of 0.27.

Institutional Trading of Weibo

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning purchased a new stake in Weibo during the 3rd quarter worth $112,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Weibo by 17.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider's stock valued at $134,000 after buying an additional 1,970 shares during the last quarter. Seven Eight Capital LP purchased a new position in Weibo in the 2nd quarter valued at about $110,000. Diversified Trust Co purchased a new position in Weibo in the 3rd quarter valued at about $194,000. Finally, Franklin Resources Inc. boosted its position in Weibo by 16.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider's stock valued at $266,000 after buying an additional 3,884 shares during the last quarter. 68.77% of the stock is 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.