Weibo (NASDAQ:WB) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Weibo Co. (NASDAQ:WB)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $9.43 and traded as high as $9.48. Weibo shares last traded at $9.43, with a volume of 822,924 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup increased their price target on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, September 30th. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Benchmark restated a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Weibo presently has an average rating of “Hold” and a consensus target price of $10.28.

Weibo Price Performance

The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $9.43 and a two-hundred day moving average of $8.76.

Institutional Investors Weigh In On Weibo

Several institutional investors and hedge funds have recently made changes to their positions in WB. Canada Pension Plan Investment Board boosted its holdings in Weibo by 64.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock valued at $10,056,000 after acquiring an additional 511,248 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Weibo by 1.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,153,088 shares of the information services provider’s stock worth $11,623,000 after purchasing an additional 19,200 shares during the period. State Street Corp boosted its stake in shares of Weibo by 0.7% in the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock valued at $9,392,000 after purchasing an additional 6,369 shares during the last quarter. Millennium Management LLC increased its position in shares of Weibo by 56.1% during the second quarter. Millennium Management LLC now owns 726,940 shares of the information services provider’s stock worth $5,583,000 after buying an additional 261,180 shares during the period. Finally, Citigroup Inc. raised its stake in Weibo by 347.3% during the third quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after buying an additional 468,072 shares during the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

Weibo Company Profile

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.