Sina Corp. (SINA) Reaches New 52-Week High at $56.00
Shares of Sina Corp. (NASDAQ:SINA) reached a new 52-week high on Thursday . The company traded as high as $56.00 and last traded at $55.95, with a volume of 409,381 shares trading hands. The stock had previously closed at $54.56.
SINA has been the topic of a number of analyst reports. Zacks Investment Research upgraded Sina Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Brean Capital reiterated a “buy” rating on shares of Sina Corp. in a research report on Thursday, May 12th. Finally, Jefferies Group upgraded Sina Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Friday, July 22nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $53.10.
The firm’s 50 day moving average price is $52.12 and its 200 day moving average price is $48.54. The firm has a market cap of $3.91 billion and a P/E ratio of 70.73.
Sina Corp. (NASDAQ:SINA) last posted its quarterly earnings data on Wednesday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm earned $198.70 million during the quarter, compared to analysts’ expectations of $189.47 million. During the same period in the previous year, the company earned $0.04 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that Sina Corp. will post $0.85 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Sina Corp. stock. First Trust Advisors LP increased its position in shares of Sina Corp. (NASDAQ:SINA) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,426 shares of the company’s stock after buying an additional 1,352 shares during the period. First Trust Advisors LP owned approximately 0.05% of Sina Corp. worth $1,552,000 as of its most recent filing with the SEC.
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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