Weibo (NASDAQ:WB) Reaches New 1-Year Low – Time to Sell?

Shares of Weibo Corporation (NASDAQ:WB) reached a new 52-week low during trading on Thursday. The stock traded as low as $6.25 and last traded at $6.2430, with a volume of 12,512 shares changing hands. The stock had previously closed at $6.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WB shares. Benchmark reiterated a “hold” rating on shares of Weibo in a research note on Thursday, August 20th. Bank of America reiterated an “underperform” rating on shares of Weibo in a report on Friday, August 21st. Zacks Research cut Weibo from a “hold” rating to a “strong sell” rating in a report on Thursday, September 24th. Citigroup lowered shares of Weibo from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $9.30 to $7.80 in a research report on Thursday, August 20th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Weibo in a research report on Friday, July 24th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Weibo currently has an average rating of “Reduce” and an average price target of $8.80.

Weibo Trading Down 0.7%

The company’s 50 day simple moving average is $6.74 and its two-hundred day simple moving average is $7.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.59 and a current ratio of 3.59. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 5.19 and a beta of 0.17.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $453.83 million for the quarter, compared to analyst estimates of $442.45 million. Weibo had a return on equity of 8.87% and a net margin of 17.78%. Research analysts expect that Weibo Corporation will post 1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Weibo

Hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. raised its position in shares of Weibo by 67.5% during the third quarter. SBI Securities Co. Ltd. now owns 6,325 shares of the information services provider’s stock valued at $41,000 after buying an additional 2,550 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Weibo by 15.2% during the 2nd quarter. QRG Capital Management Inc. now owns 23,465 shares of the information services provider’s stock valued at $170,000 after acquiring an additional 3,090 shares in the last quarter. Tidal Investments LLC bought a new position in Weibo during the second quarter worth about $208,000. Squarepoint Ops LLC boosted its holdings in Weibo by 55.0% during the second quarter. Squarepoint Ops LLC now owns 101,006 shares of the information services provider’s stock valued at $733,000 after purchasing an additional 35,831 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Weibo in the 2nd quarter valued at $93,000. 68.77% of the stock is currently owned by institutional investors.

Weibo Company Profile

Weibo Corp. (NASDAQ: WB) operates a social media platform in China centered on the Weibo service, a microblogging and content-sharing network. The platform enables users to create, discover and distribute text, images, video and live content, while allowing public figures, media organizations, businesses and government agencies to engage with audiences and participate in public discussions.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and other brand- and performance-based advertising solutions.