Weibo (NASDAQ:WB) Shares Pass Below 200 Day Moving Average – Should You Sell?

Shares of Weibo Corporation (NASDAQ:WB) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.38 and traded as low as $6.97. Weibo shares last traded at $6.99, with a volume of 796,199 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WB shares. Bank of America restated an “underperform” rating on shares of Weibo in a research note on Friday, August 21st. Benchmark reissued a “hold” rating on shares of Weibo in a report on Thursday, August 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Weibo in a research note on Friday, July 24th. Zacks Research raised Weibo from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Citigroup lowered Weibo from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $9.30 to $7.80 in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $8.80.

Weibo Trading Up 0.1%

The firm has a market cap of $1.72 billion, a P/E ratio of 5.78, a P/E/G ratio of 4.45 and a beta of 0.18. The business’s 50-day moving average is $7.60 and its two-hundred day moving average is $8.38. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.46.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $453.83 million for the quarter, compared to analysts’ expectations of $442.45 million. Weibo had a net margin of 17.78% and a return on equity of 8.87%. As a group, analysts expect that Weibo Corporation will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Weibo

Large investors have recently added to or reduced their stakes in the stock. FIL Ltd acquired a new position in Weibo during the 4th quarter valued at about $16,693,000. UBS Group AG increased its stake in shares of Weibo by 102.8% in the third quarter. UBS Group AG now owns 1,377,705 shares of the information services provider’s stock valued at $17,084,000 after purchasing an additional 698,521 shares during the period. Wellington Management Group LLP raised its holdings in shares of Weibo by 41.9% during the second quarter. Wellington Management Group LLP now owns 2,363,373 shares of the information services provider’s stock valued at $17,158,000 after buying an additional 697,778 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Weibo by 497.1% during the second quarter. JPMorgan Chase & Co. now owns 720,348 shares of the information services provider’s stock valued at $6,865,000 after buying an additional 599,700 shares during the last quarter. Finally, Saba Capital Management L.P. boosted its position in shares of Weibo by 21.0% during the first quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock worth $21,327,000 after buying an additional 422,294 shares during the period. 68.77% of the stock is owned by institutional investors and hedge funds.

About Weibo

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.