Weibo Co. (NASDAQ:WB) Short Interest Update

Weibo Co. (NASDAQ:WB) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 16,969,100 shares, a growth of 24.1% from the May 31st total of 13,670,000 shares. Based on an average daily volume of 2,081,500 shares, the days-to-cover ratio is currently 8.2 days.

Weibo Stock Performance

Shares of WB opened at $7.68 on Monday. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.57. Weibo has a 52-week low of $7.58 and a 52-week high of $16.02. The stock has a 50 day moving average price of $8.75 and a 200 day moving average price of $9.02. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.24.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, May 23rd. The information services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Weibo had a net margin of 16.74% and a return on equity of 10.92%. The firm had revenue of $395.50 million for the quarter, compared to analyst estimates of $396.50 million. Research analysts predict that Weibo will post 1.48 EPS for the current fiscal year.

Institutional Trading of Weibo

A number of large investors have recently made changes to their positions in the company. Truist Financial Corp acquired a new position in Weibo during the fourth quarter worth $117,000. Bayesian Capital Management LP acquired a new position in shares of Weibo in the first quarter worth $123,000. Profund Advisors LLC acquired a new stake in shares of Weibo during the third quarter valued at $133,000. XY Capital Ltd acquired a new position in Weibo in the 1st quarter valued at about $140,000. Finally, abrdn plc grew its holdings in shares of Weibo by 59.4% during the fourth quarter. abrdn plc now owns 18,665 shares of the information services provider’s stock worth $204,000 after buying an additional 6,955 shares in the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WB has been the subject of several research reports. UBS Group upgraded shares of Weibo from a “neutral” rating to a “buy” rating and dropped their target price for the company from $12.90 to $11.50 in a report on Tuesday, March 19th. The Goldman Sachs Group reissued a “neutral” rating and set a $10.60 target price on shares of Weibo in a research note on Thursday, March 28th. Morgan Stanley downgraded Weibo from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $11.00 to $10.00 in a research report on Friday, May 17th. Finally, HSBC reduced their price target on shares of Weibo from $13.60 to $9.80 and set a “hold” rating on the stock in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.65.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.