WEBTOON Entertainment (NASDAQ:WBTN) Trading Down 6.6% – Here’s What Happened

WEBTOON Entertainment Inc. (NASDAQ:WBTN) shares dropped 6.6% on Wednesday . The company traded as low as $9.11 and last traded at $9.1610. Approximately 206,327 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 342,556 shares. The stock had previously closed at $9.81.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Evercore reiterated an “outperform” rating and set a $15.00 price target on shares of WEBTOON Entertainment in a research note on Wednesday, March 4th. Wall Street Zen lowered WEBTOON Entertainment from a “hold” rating to a “sell” rating in a report on Monday, March 2nd. Zacks Research downgraded WEBTOON Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. 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 report on Wednesday, March 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, WEBTOON Entertainment currently has an average rating of “Hold” and an average price target of $15.07.

WEBTOON Entertainment Price Performance

The company has a market capitalization of $1.23 billion, a P/E ratio of -3.48 and a beta of 1.94. The firm has a fifty day moving average price of $11.77 and a 200-day moving average price of $14.35.

WEBTOON Entertainment (NASDAQ:WBTN) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). WEBTOON Entertainment had a positive return on equity of 1.44% and a negative net margin of 24.94%.The business had revenue of $330.69 million during the quarter, compared to analysts’ expectations of $336.77 million. During the same period in the prior year, the firm posted ($0.03) EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts forecast that WEBTOON Entertainment Inc. will post -0.26 EPS for the current year.

Institutional Investors Weigh In On WEBTOON Entertainment

Several large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in WEBTOON Entertainment in the third quarter worth $39,000. State of Alaska Department of Revenue purchased a new stake in WEBTOON Entertainment in the 3rd quarter worth about $55,000. BNP Paribas Financial Markets increased its holdings in WEBTOON Entertainment by 103.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,548 shares of the company’s stock worth $69,000 after acquiring an additional 1,804 shares during the last quarter. Chung Wu Investment Group LLC bought a new stake in WEBTOON Entertainment in the 3rd quarter valued at about $78,000. Finally, CWM LLC raised its stake in WEBTOON Entertainment by 54.1% in the 3rd quarter. CWM LLC now owns 7,204 shares of the company’s stock valued at $140,000 after acquiring an additional 2,530 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.