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

Shares of Weibo Co. (NASDAQ:WB) saw unusually-high trading volume on Tuesday . Approximately 790,003 shares changed hands during 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 Analyst Weigh In

WB has been the topic of several recent analyst reports. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.28.

Weibo Stock Up 5.2 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57. The stock has a 50 day moving average price of $9.92 and a 200 day moving average price of $9.15. The company has a market cap of $2.68 billion, a P/E ratio of 7.57 and a beta of 0.26.

Institutional Investors Weigh In On Weibo

A number of institutional investors and hedge funds have recently modified their holdings of WB. RPD Fund Management LLC acquired a new stake in shares of Weibo during the fourth quarter worth $19,115,000. Norges Bank acquired a new stake in shares of Weibo during the fourth quarter worth $11,274,000. Wellington Management Group LLP grew its holdings in shares of Weibo by 1,641.9% during the fourth quarter. Wellington Management Group LLP now owns 1,048,522 shares of the information services provider’s stock valued at $10,013,000 after buying an additional 988,327 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Weibo during the fourth quarter valued at $6,853,000. Finally, Quinn Opportunity Partners LLC purchased a new position in shares of Weibo during the fourth quarter valued at $6,133,000. 68.77% of the stock is 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.