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

Weibo Co. (NASDAQ:WB) gapped up before the market opened on Friday . The stock had previously closed at $11.05, but opened at $11.56. Weibo shares last traded at $11.64, with a volume of 730,284 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WB shares. Benchmark reaffirmed a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. One equities 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 data from MarketBeat.com, Weibo presently has a consensus rating of “Hold” and a consensus price target of $10.28.

Weibo Stock Performance

The firm’s 50-day moving average price is $9.93 and its two-hundred day moving average price is $9.17. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.74 billion, a PE ratio of 7.70 and a beta of 0.26.

Hedge Funds Weigh In On Weibo

Large investors have recently made changes to their positions in the business. RPD Fund Management LLC acquired a new stake in shares of Weibo in the fourth quarter worth about $19,115,000. Norges Bank bought a new stake in Weibo during the fourth quarter worth approximately $11,274,000. Wellington Management Group LLP grew its stake in Weibo by 1,641.9% in the 4th 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 during the last quarter. Woodline Partners LP acquired a new stake in shares of Weibo during the 4th quarter worth approximately $6,853,000. Finally, Quinn Opportunity Partners LLC acquired a new position in shares of Weibo in the fourth quarter valued at $6,133,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

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.