Weibo (NASDAQ:WB) Shares Gap Up – Should You Buy?

Weibo Co. (NASDAQ:WB)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $10.89, but opened at $11.60. Weibo shares last traded at $10.80, with a volume of 1,345,459 shares.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WB. Benchmark restated a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Weibo presently has an average rating of “Hold” and an average target price of $10.28.

Weibo Stock Up 1.9 %

The stock’s 50 day moving average is $9.89 and its 200 day moving average is $9.09. The company has a market capitalization of $2.69 billion, a PE ratio of 7.60 and a beta of 0.26. 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 Trading of Weibo

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in Weibo by 155.2% during the fourth 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. E Fund Management Hong Kong Co. Ltd. bought a new position in Weibo in the 4th quarter valued at $70,000. PARUS FINANCE UK Ltd purchased a new position in shares of Weibo during the 4th quarter valued at $99,000. Creative Planning bought a new position in shares of Weibo in the third quarter worth $112,000. Finally, Virtu Financial LLC purchased a new stake in shares of Weibo in the fourth quarter worth $117,000. 68.77% of the stock is currently owned by institutional investors.

Weibo Company Profile

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.