Weibo (NASDAQ:WB) Shares Gap Up – Time to Buy?

Weibo Co. (NASDAQ:WB) 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WB. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. StockNews.com raised 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 given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.28.

Weibo Stock Performance

The firm has a 50 day moving average of $9.84 and a two-hundred day moving average of $9.04. The stock has a market cap of $2.67 billion, a PE ratio of 7.56 and a beta of 0.26. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WB. Blue Trust Inc. increased its holdings in shares of Weibo by 155.2% in the fourth quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 1,642 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Weibo in the fourth quarter valued at approximately $70,000. PARUS FINANCE UK Ltd acquired a new position in shares of Weibo in the fourth quarter valued at approximately $99,000. Creative Planning acquired a new position in Weibo during the third quarter worth $112,000. Finally, Virtu Financial LLC acquired a new position in Weibo during the fourth quarter worth $117,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

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.