Weibo (NASDAQ:WB) Shares Gap Down – Should You Sell?

Weibo Co. (NASDAQ:WB)’s stock 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 Ratings Changes

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

Weibo Stock Down 2.3 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57. The company has a market capitalization of $2.39 billion, a P/E ratio of 6.92 and a beta of 0.27. The firm’s fifty day moving average is $9.41 and its 200-day moving average is $8.55.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WB. SG Americas Securities LLC increased its holdings in Weibo by 21.5% in the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock worth $397,000 after purchasing an additional 9,143 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Weibo by 204.5% in the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock valued at $18,678,000 after buying an additional 1,634,230 shares during the period. Headlands Technologies LLC bought a new position in Weibo in the 2nd quarter valued at approximately $1,398,000. Krane Funds Advisors LLC boosted its position in Weibo by 17.4% during the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after buying an additional 564,068 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Weibo by 42.1% during the 2nd quarter. Hsbc Holdings PLC now owns 59,890 shares of the information services provider’s stock worth $460,000 after acquiring an additional 17,749 shares during the last quarter. 68.77% of the stock is currently owned by 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.