Weibo (NASDAQ:WB) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Weibo Co. (NASDAQ:WB) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $9.53 and traded as high as $9.58. Weibo shares last traded at $9.34, with a volume of 484,073 shares changing hands.

Analysts Set New Price Targets

A number of analysts have weighed in on WB shares. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Benchmark reiterated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. Finally, Citigroup upped their price objective on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Weibo has a consensus rating of “Hold” and an average price target of $10.28.

Weibo Price Performance

The stock has a fifty day moving average of $9.58 and a two-hundred day moving average of $8.83. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 6.71 and a beta of 0.26. 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 Trading of Weibo

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Weibo by 155.2% during the 4th quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 1,642 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in Weibo in the 4th quarter valued at approximately $70,000. Creative Planning acquired a new position in Weibo during the third quarter worth $112,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Weibo by 17.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after purchasing an additional 1,970 shares in the last quarter. Finally, Diversified Trust Co acquired a new stake in Weibo in the third quarter valued at $194,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

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.