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

Shares of Weibo Co. (NASDAQ:WB) 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 traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WB. Citigroup upped their price objective on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Nomura Securities raised Weibo to a “hold” rating in a research report on Monday, August 26th. Benchmark reissued a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley reduced their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.23.

Weibo Stock Down 2.3 %

The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 6.92 and a beta of 0.27. The firm has a fifty day simple moving average of $9.41 and a 200-day simple moving average of $8.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57.

Institutional Investors Weigh In On Weibo

Several hedge funds have recently bought and sold shares of WB. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after purchasing an additional 1,970 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Weibo by 16.5% in the third quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock valued at $266,000 after purchasing an additional 3,884 shares during the last quarter. State Street Corp grew its position in shares of Weibo by 0.7% in the third quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock valued at $9,392,000 after purchasing an additional 6,369 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of Weibo by 22.8% in the third quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 7,508 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Weibo by 21.5% during the second quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock worth $397,000 after acquiring an additional 9,143 shares during the period. 68.77% of the stock is currently owned by institutional investors and hedge funds.

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.