WEBTOON Entertainment (NASDAQ:WBTN) Sets New 1-Year Low – Time to Sell?

WEBTOON Entertainment Inc. (NASDAQ:WBTN) shares hit a new 52-week low on Thursday . The stock traded as low as $8.61 and last traded at $8.66, with a volume of 59233 shares changing hands. The stock had previously closed at $8.85.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WBTN shares. The Goldman Sachs Group lowered their target price on shares of WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley dropped their target price on shares of WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, WEBTOON Entertainment currently has an average rating of “Moderate Buy” and an average target price of $17.33.

WEBTOON Entertainment Stock Performance

The stock has a market cap of $1.09 billion and a price-to-earnings ratio of 18.57. The business’s 50 day moving average is $11.61 and its 200-day moving average is $11.77.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The business had revenue of $352.85 million during the quarter, compared to analyst estimates of $351.00 million. Sell-side analysts anticipate that WEBTOON Entertainment Inc. will post -0.26 EPS for the current fiscal year.

Institutional Trading of WEBTOON Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in WBTN. Millennium Management LLC raised its holdings in WEBTOON Entertainment by 1,312.2% during the fourth quarter. Millennium Management LLC now owns 224,887 shares of the company’s stock worth $3,054,000 after purchasing an additional 208,962 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of WEBTOON Entertainment during the fourth quarter worth about $54,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of WEBTOON Entertainment by 69.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,273 shares of the company’s stock worth $398,000 after purchasing an additional 11,954 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in WEBTOON Entertainment during the fourth quarter worth approximately $5,033,000. Finally, Northern Trust Corp raised its holdings in shares of WEBTOON Entertainment by 6.8% in the 4th quarter. Northern Trust Corp now owns 128,310 shares of the company’s stock worth $1,742,000 after purchasing an additional 8,190 shares during the period.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment Inc operates a storytelling platform worldwide. The company’s platform allows a community of creators and users to discover, create, and share new content. Its platform offers stories primarily in two ways, including web-comics, a graphical comic-like medium; and web-novels, which are text-based stories.