WEBTOON Entertainment (NASDAQ:WBTN) Reaches New 52-Week Low – Should You Sell?

WEBTOON Entertainment Inc. (NASDAQ:WBTN) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.01 and last traded at $10.01, with a volume of 99081 shares traded. The stock had previously closed at $10.23.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WBTN shares. Morgan Stanley cut their price target on WEBTOON Entertainment from $17.50 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price objective on shares of WEBTOON Entertainment from $48.00 to $25.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of WEBTOON Entertainment from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.67.

WEBTOON Entertainment Trading Down 2.3 %

The firm’s 50-day moving average price is $12.59 and its 200 day moving average price is $12.09.

Institutional Trading of WEBTOON Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in WEBTOON Entertainment during the third quarter worth $45,000. Deutsche Bank AG purchased a new position in WEBTOON Entertainment during the 4th quarter worth $54,000. New York State Common Retirement Fund bought a new stake in shares of WEBTOON Entertainment in the 4th quarter worth $60,000. JPMorgan Chase & Co. purchased a new stake in shares of WEBTOON Entertainment in the third quarter valued at about $75,000. Finally, MetLife Investment Management LLC purchased a new stake in WEBTOON Entertainment in the 3rd quarter valued at about $107,000.

About WEBTOON Entertainment

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.