Weibo (NASDAQ:WB) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Weibo Corporation (NASDAQ:WB) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $9.64 and traded as low as $8.59. Weibo shares last traded at $8.69, with a volume of 2,021,259 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Weibo in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Weibo Stock Down 1.0%

The firm has a 50-day moving average price of $9.64 and a 200 day moving average price of $10.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.39 and a quick ratio of 3.35. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 5.11, a P/E/G ratio of 4.55 and a beta of 0.20.

Weibo (NASDAQ:WB) last posted its earnings results on Thursday, March 19th. The information services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.07). Weibo had a net margin of 25.55% and a return on equity of 10.63%. The firm had revenue of $473.26 million during the quarter, compared to analyst estimates of $444.28 million. During the same period in the previous year, the company posted $0.40 EPS. Weibo’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts predict that Weibo Corporation will post 1.62 EPS for the current year.

Weibo Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, April 17th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, April 17th. This represents a dividend yield of 706.0%. Weibo’s dividend payout ratio is presently 34.71%.

Hedge Funds Weigh In On Weibo

Several institutional investors and hedge funds have recently made changes to their positions in WB. DGS Capital Management LLC grew its position in Weibo by 46.1% during the fourth quarter. DGS Capital Management LLC now owns 106,768 shares of the information services provider’s stock worth $1,091,000 after buying an additional 33,705 shares in the last quarter. XTX Topco Ltd acquired a new stake in Weibo during the fourth quarter worth approximately $517,000. Voloridge Investment Management LLC grew its position in Weibo by 51.1% during the fourth quarter. Voloridge Investment Management LLC now owns 481,187 shares of the information services provider’s stock worth $4,918,000 after buying an additional 162,627 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Weibo during the fourth quarter worth approximately $176,000. Finally, Balyasny Asset Management L.P. grew its position in Weibo by 144.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 147,743 shares of the information services provider’s stock worth $1,510,000 after buying an additional 87,425 shares in the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

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.