WEBTOON Entertainment (NASDAQ:WBTN) Hits New 12-Month Low – Should You Sell?

Shares of WEBTOON Entertainment Inc. (NASDAQ:WBTN) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $8.61 and last traded at $8.66, with a volume of 59233 shares. The stock had previously closed at $8.85.

Wall Street Analyst Weigh In

WBTN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley decreased their price objective on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.33.

WEBTOON Entertainment Stock Performance

The business has a 50 day simple moving average of $11.39 and a 200-day simple moving average of $11.71. The stock has a market capitalization of $1.09 billion and a P/E ratio of 18.48.

WEBTOON Entertainment (NASDAQ:WBTN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The business had revenue of $352.85 million during the quarter, compared to analysts’ expectations of $351.00 million. Equities research analysts forecast that WEBTOON Entertainment Inc. will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On WEBTOON Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in shares of WEBTOON Entertainment by 1,312.2% during the 4th quarter. Millennium Management LLC now owns 224,887 shares of the company’s stock worth $3,054,000 after acquiring an additional 208,962 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of WEBTOON Entertainment during the 4th quarter worth $54,000. D. E. Shaw & Co. Inc. boosted its stake in shares of WEBTOON Entertainment by 69.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,273 shares of the company’s stock worth $398,000 after acquiring an additional 11,954 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of WEBTOON Entertainment during the 4th quarter worth $5,033,000. Finally, Northern Trust Corp boosted its stake in shares of WEBTOON Entertainment by 6.8% during the 4th quarter. Northern Trust Corp now owns 128,310 shares of the company’s stock worth $1,742,000 after acquiring an additional 8,190 shares in the last quarter.

About WEBTOON Entertainment

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.