Weibo (NASDAQ:WB) Sees Unusually-High Trading Volume – Time to Buy?

Weibo Co. (NASDAQ:WB) saw unusually-high trading volume on Tuesday . Approximately 790,003 shares traded hands during mid-day trading, a decline of 29% from the previous session’s volume of 1,108,961 shares.The stock last traded at $10.62 and had previously closed at $11.10.

Wall Street Analysts Forecast Growth

WB has been the topic of a number of recent research reports. Benchmark restated a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.28.

Weibo Stock Up 5.2 %

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 firm has a market cap of $2.68 billion, a price-to-earnings ratio of 7.57 and a beta of 0.26. The firm has a 50-day moving average of $9.92 and a two-hundred day moving average of $9.15.

Hedge Funds Weigh In On Weibo

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in Weibo by 155.2% in the 4th quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 1,642 shares in the last quarter. Shell Asset Management Co. acquired a new position in Weibo in the 4th quarter valued at approximately $54,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Weibo in the 4th quarter valued at approximately $70,000. PARUS FINANCE UK Ltd acquired a new position in Weibo in the 4th quarter valued at approximately $99,000. Finally, Creative Planning acquired a new position in Weibo in the 3rd quarter valued at approximately $112,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

About Weibo

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.