Weibo Corp ADR [NASDAQ: WB] surged by $0.52 during the normal trading session on while it closed the day at $9.29. The company report on November 30, 2023 at 8:56 AM that Weibo Corporation Prices Offering of American Depositary Shares in connection with the Delta Placement of Borrowed ADSs.
Weibo Corporation (“Weibo” or the “Company”) (Nasdaq: WB; HKEX: 9898), a leading social media in China, today announced the pricing of a previously announced offering of 6,233,785 American Depositary Shares (“ADSs”), each currently representing one Class A ordinary share of Weibo, par value US$0.00025 per share (the “ADS Offering”), which the Company will lend (the “Borrowed ADSs”) to an affiliate of the underwriter in the ADS Offering (such affiliate, the “ADS Borrower”) pursuant to an ADS lending agreement with the ADS Borrower (the “ADS Lending Agreement”).
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Concurrently with the ADS Offering, the Company priced the offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$300 million due 2030 (the “Notes”) pursuant to Rule 144A of the Securities Act of 1933, as amended. The Company has granted the initial purchaser in the Notes Offering an option, exercisable within a 30-day period, beginning on and including the date of the Notes Offering, to purchase up to an additional US$30 million in principal amount of the Notes.
Weibo Corp ADR stock has also gained 3.91% of its value over the past 7 days. However, WB stock has declined by -16.23% in the 3 months of the year. Over the past six months meanwhile, it has lost -30.98% and lost -15.16% year-on date.
The market cap for WB stock reached $1.35 billion, with 145.37 million shares outstanding and 145.31 million shares in the current float. Compared to the average trading volume of 2.26M shares, WB reached a trading volume of 3514854 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Weibo Corp ADR [WB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WB shares is $16.16 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WB stock is a recommendation set at 1.83. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Weibo Corp ADR shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 11, 2024.
The Average True Range (ATR) for Weibo Corp ADR is set at 0.42, with the Price to Sales ratio for WB stock in the period of the last 12 months amounting to 0.77. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 19.05.
WB stock trade performance evaluation
Weibo Corp ADR [WB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.91. With this latest performance, WB shares gained by 7.90% in over the last four-week period, additionally sinking by -30.98% over the last 6 months – not to mention a drop of -57.57% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WB stock in for the last two-week period is set at 54.85, with the RSI for the last a single of trading hit 60.22, and the three-weeks RSI is set at 50.75 for Weibo Corp ADR [WB]. The present Moving Average for the last 50 days of trading for this stock 9.36, while it was recorded at 9.01 for the last single week of trading, and 12.42 for the last 200 days.
Weibo Corp ADR [WB]: An insightful look at the core fundamentals
Weibo Corp ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.38 and a Current Ratio set at 2.38.
Earnings per share (EPS) analysis for Weibo Corp ADR [WB] stock
With the latest financial reports released by the company, Weibo Corp ADR posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 44.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Weibo Corp ADR go to 1.69%.
Weibo Corp ADR [WB]: Institutional Ownership
The top three institutional holders of WB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WB stock with ownership which is approximately 5.8325%.
