Weibo (NASDAQ:WB) Sees Unusually-High Trading Volume – Here’s What Happened

Weibo Corporation (NASDAQ:WB) shares saw strong trading volume on Thursday . 786,613 shares traded hands during mid-day trading, a decline of 33% from the previous session’s volume of 1,176,183 shares.The stock last traded at $7.3750 and had previously closed at $7.42.

Analyst Ratings Changes

WB has been the topic of several recent research reports. Weiss Ratings downgraded Weibo from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, April 27th. Zacks Research cut Weibo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $9.80 target price on shares of Weibo in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Weibo presently has an average rating of “Hold” and an average price target of $11.90.

Weibo Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.02 and a current ratio of 3.02. The company has a market cap of $1.80 billion, a P/E ratio of 5.14, a P/E/G ratio of 4.51 and a beta of 0.20. The firm has a 50 day moving average price of $8.26 and a 200-day moving average price of $9.40.

Weibo (NASDAQ:WB) last posted its quarterly earnings data on Thursday, May 28th. The information services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $421.33 million for the quarter, compared to analyst estimates of $416.76 million. Weibo had a return on equity of 9.90% and a net margin of 21.15%.Weibo’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. On average, research analysts predict that Weibo Corporation will post 1.26 EPS for the current year.

Hedge Funds Weigh In On Weibo

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its position in Weibo by 337.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after acquiring an additional 2,990 shares during the last quarter. WealthCollab LLC grew its position in Weibo by 50.1% during the 4th quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock worth $52,000 after acquiring an additional 1,709 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Weibo in the 2nd quarter valued at $61,000. FourThought Financial Partners LLC bought a new position in Weibo in the 4th quarter valued at $110,000. Finally, Savant Capital LLC bought a new position in Weibo in the 3rd quarter valued at $153,000. 68.77% of the stock is owned by institutional investors and hedge funds.

About Weibo

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.