WEBTOON Entertainment (NASDAQ:WBTN) Reaches New 1-Year Low – Here’s Why

WEBTOON Entertainment Inc. (NASDAQ:WBTN)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $8.68 and last traded at $8.77, with a volume of 198681 shares. The stock had previously closed at $8.90.

Analyst Ratings Changes

A number of equities analysts recently commented on WBTN shares. Deutsche Bank Aktiengesellschaft cut their price objective on WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group lowered their target price on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley lowered their price target on WEBTOON Entertainment from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their price target on WEBTOON Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.33.

WEBTOON Entertainment Trading Up 1.9 %

The firm has a 50-day moving average price of $12.23 and a 200-day moving average price of $11.97. The stock has a market capitalization of $1.16 billion and a PE ratio of 19.72.

WEBTOON Entertainment (NASDAQ:WBTN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $352.85 million during the quarter, compared to the consensus estimate of $351.00 million. Sell-side analysts expect that WEBTOON Entertainment Inc. will post -0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. bought a new stake in shares of WEBTOON Entertainment during the 3rd quarter valued at about $1,344,000. FMR LLC increased its stake in WEBTOON Entertainment by 45.0% in the 3rd 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 purchased a new position in shares of WEBTOON Entertainment during the third quarter valued at approximately $45,000. MetLife Investment Management LLC purchased a new position in shares of WEBTOON Entertainment during the third 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.