Weibo (NASDAQ:WB) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Shares of Weibo Co. (NASDAQ:WB) passed 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 trading hands.

Analyst Ratings Changes

WB has been the topic of a number of recent research reports. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Citigroup boosted 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.28.

Weibo Stock Performance

The firm’s fifty day simple moving average is $9.43 and its 200 day simple moving average is $8.76. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

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

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.