Weibo (NASDAQ:WB) Hits New 52-Week Low – Should You Sell?

Shares of Weibo Corporation (NASDAQ:WB) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $7.30 and last traded at $7.36, with a volume of 2015990 shares changing hands. The stock had previously closed at $7.33.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WB shares. Jefferies Financial Group reiterated a “buy” rating and set a $9.80 price target on shares of Weibo in a report on Thursday, May 28th. Zacks Research downgraded Weibo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings cut Weibo from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.90.

Weibo Trading Up 0.4%

The firm’s 50 day moving average is $8.17 and its 200 day moving average is $9.34. The company has a market cap of $1.81 billion, a PE ratio of 5.15, a PEG ratio of 4.41 and a beta of 0.20. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.02 and a quick ratio of 3.02.

Weibo (NASDAQ:WB) last posted its earnings results on Thursday, May 28th. The information services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $421.33 million during the quarter, compared to analysts’ expectations of $416.76 million. Weibo had a return on equity of 9.90% and a net margin of 21.15%.The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, equities analysts anticipate that Weibo Corporation will post 1.26 earnings per share for the current year.

Institutional Trading of Weibo

Several institutional investors and hedge funds have recently modified their holdings of WB. Bank of America Corp DE lifted its position in Weibo by 45.9% during the first quarter. Bank of America Corp DE now owns 35,307 shares of the information services provider’s stock valued at $309,000 after purchasing an additional 11,109 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Weibo by 337.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after purchasing an additional 2,990 shares in the last quarter. Saba Capital Management L.P. boosted its holdings in shares of Weibo by 21.0% in the 1st quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock worth $21,327,000 after purchasing an additional 422,294 shares in the last quarter. Sei Investments Co. increased its position in shares of Weibo by 39.6% during the 1st quarter. Sei Investments Co. now owns 584,557 shares of the information services provider’s stock valued at $5,115,000 after purchasing an additional 165,936 shares during the last quarter. Finally, AIA Group Ltd increased its position in shares of Weibo by 229.7% during the 1st quarter. AIA Group Ltd now owns 103,579 shares of the information services provider’s stock valued at $906,000 after purchasing an additional 72,159 shares during the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Weibo Company Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.