WEBTOON Entertainment (NASDAQ:WBTN) Trading Down 5.9% – Here’s What Happened

WEBTOON Entertainment Inc. (NASDAQ:WBTN) traded down 5.9% during mid-day trading on Wednesday . The stock traded as low as $11.71 and last traded at $11.66. 115,149 shares were traded during mid-day trading, a decline of 66% from the average session volume of 336,360 shares. The stock had previously closed at $12.39.

Analysts Set New Price Targets

A number of research analysts have commented on WBTN shares. Evercore reaffirmed an “outperform” rating and set a $15.00 price target on shares of WEBTOON Entertainment in a research report on Wednesday, March 4th. The Goldman Sachs Group reissued a “neutral” rating and set a $10.00 target price on shares of WEBTOON Entertainment in a research note on Thursday, March 5th. Wall Street Zen upgraded WEBTOON Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. HSBC lowered WEBTOON Entertainment from a “buy” rating to a “hold” rating and set a $11.50 price target for the company. in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of WEBTOON Entertainment in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, WEBTOON Entertainment has a consensus rating of “Hold” and an average price target of $15.75.

WEBTOON Entertainment Trading Down 6.7%

The stock has a market cap of $1.56 billion, a PE ratio of -4.53 and a beta of 2.48. The business has a fifty day simple moving average of $11.94 and a two-hundred day simple moving average of $11.83.

Hedge Funds Weigh In On WEBTOON Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in WBTN. Ameriprise Financial Inc. grew its position in shares of WEBTOON Entertainment by 8.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 939,475 shares of the company’s stock worth $18,235,000 after buying an additional 73,777 shares during the period. Bank of America Corp DE boosted its stake in WEBTOON Entertainment by 966.9% during the second quarter. Bank of America Corp DE now owns 823,708 shares of the company’s stock worth $7,479,000 after acquiring an additional 746,505 shares in the last quarter. Geode Capital Management LLC boosted its stake in WEBTOON Entertainment by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 550,280 shares of the company’s stock worth $7,171,000 after acquiring an additional 23,420 shares in the last quarter. Vanguard Group Inc. grew its holdings in WEBTOON Entertainment by 22.8% in the third quarter. Vanguard Group Inc. now owns 427,623 shares of the company’s stock worth $8,300,000 after purchasing an additional 79,295 shares during the period. Finally, State Street Corp grew its holdings in WEBTOON Entertainment by 0.9% in the fourth quarter. State Street Corp now owns 366,437 shares of the company’s stock worth $4,775,000 after purchasing an additional 3,443 shares during the period.

WEBTOON Entertainment Company Profile

Webtoon Entertainment Inc operates WEBTOON, a leading digital comics platform offering a diverse library of user-generated and professionally produced webcomics. The company enables creators around the world to publish serialized content in a vertical-scrolling format optimized for mobile and web consumption. Through its platform, readers can access thousands of titles across genres such as romance, fantasy, drama, and action, with both free-to-read episodes and advanced access options supported by microtransactions and advertising.

Founded as part of Naver Corporation and launched internationally in 2014, Webtoon Entertainment has grown rapidly by fostering a direct connection between comic creators and global audiences.