Weibo (NASDAQ:WB) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Shares of Weibo Co. (NASDAQ:WB) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-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 trading hands.

Analyst Upgrades and Downgrades

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

Weibo Stock Performance

The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 6.66 and a beta of 0.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57. The company’s fifty day simple moving average is $9.46 and its two-hundred day simple moving average is $8.78.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WB. Seven Eight Capital LP acquired a new position in shares of Weibo in the 2nd quarter valued at about $110,000. Creative Planning acquired a new position in shares of Weibo in the 3rd quarter valued at about $112,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Weibo by 17.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after buying an additional 1,970 shares during the period. Diversified Trust Co acquired a new position in shares of Weibo in the 3rd quarter valued at about $194,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Weibo by 16.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock valued at $266,000 after buying an additional 3,884 shares during the period. 68.77% of the stock is owned by institutional investors and hedge funds.

About Weibo

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.