WEBTOON Entertainment (NASDAQ:WBTN) Sets New 1-Year Low – Time to Sell?

WEBTOON Entertainment Inc. (NASDAQ:WBTN)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $10.01 and last traded at $10.01, with a volume of 99081 shares traded. The stock had previously closed at $10.23.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price objective on WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft cut their price target on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating for the company in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

WEBTOON Entertainment Trading Down 2.3 %

The company has a 50-day moving average price of $12.59 and a two-hundred day moving average price of $12.09.

Institutional Investors Weigh In On WEBTOON Entertainment

A number of large investors have recently added to or reduced their stakes in WBTN. Charles Schwab Investment Management Inc. purchased a new position in shares of WEBTOON Entertainment in the 3rd quarter worth about $1,344,000. FMR LLC boosted its holdings in shares of WEBTOON Entertainment by 45.0% during the third quarter. FMR LLC now owns 6,136,865 shares of the company’s stock worth $70,206,000 after purchasing an additional 1,905,231 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of WEBTOON Entertainment in the third quarter worth about $45,000. MetLife Investment Management LLC bought a new position in WEBTOON Entertainment during the 3rd quarter valued at approximately $107,000. Finally, Verition Fund Management LLC purchased a new position in shares of WEBTOON Entertainment during the third quarter valued at approximately $261,000.

WEBTOON Entertainment Company Profile

WEBTOON Entertainment Inc operates a storytelling platform worldwide. The company’s platform allows a community of creators and users to discover, create, and share new content. Its platform offers stories primarily in two ways, including web-comics, a graphical comic-like medium; and web-novels, which are text-based stories.