Weibo Corporation (NASDAQ:WB) Sees Significant Increase in Short Interest

Weibo Corporation (NASDAQ:WB) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 15,670,000 shares, anincreaseof175.9% from the June 30th total of 5,680,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 15.1 days. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 15.1 days.

Institutional Investors Weigh In On Weibo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Krane Funds Advisors LLC grew its position in Weibo by 25.1% in the first quarter. Krane Funds Advisors LLC now owns 4,332,687 shares of the information services provider’s stock valued at $41,031,000 after purchasing an additional 868,643 shares in the last quarter. Vanguard Group Inc. grew its position in Weibo by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 2,811,872 shares of the information services provider’s stock valued at $26,853,000 after purchasing an additional 52,598 shares in the last quarter. Saba Capital Management L.P. grew its position in Weibo by 5.9% in the fourth quarter. Saba Capital Management L.P. now owns 2,359,357 shares of the information services provider’s stock valued at $22,532,000 after purchasing an additional 131,155 shares in the last quarter. Causeway Capital Management LLC grew its position in Weibo by 14.8% in the fourth quarter. Causeway Capital Management LLC now owns 2,259,267 shares of the information services provider’s stock valued at $21,576,000 after purchasing an additional 292,086 shares in the last quarter. Finally, RPD Fund Management LLC bought a new position in Weibo in the fourth quarter valued at $19,115,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Weibo from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Weibo currently has a consensus rating of “Hold” and a consensus target price of $9.75.

Weibo Trading Down 1.5%

Shares of NASDAQ:WB opened at $9.50 on Monday. Weibo has a 12 month low of $7.03 and a 12 month high of $12.40. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $9.70 and its 200 day simple moving average is $9.53. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 6.88 and a beta of 0.10.

Weibo (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, May 21st. The information services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Weibo had a net margin of 20.41% and a return on equity of 12.29%. The business had revenue of $396.86 million for the quarter, compared to analyst estimates of $394.21 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis. As a group, research analysts forecast that Weibo will post 1.62 EPS for the current fiscal year.

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.