WEBTOON Entertainment (NASDAQ:WBTN) Hits New 12-Month Low – Should You Sell?

WEBTOON Entertainment Inc. (NASDAQ:WBTN) hit a new 52-week low on Thursday . The stock traded as low as $8.61 and last traded at $8.66, with a volume of 59233 shares traded. The stock had previously closed at $8.85.

Wall Street Analysts Forecast Growth

WBTN has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on WEBTOON Entertainment from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price 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. Finally, Morgan Stanley decreased their target price 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, WEBTOON Entertainment has a consensus rating of “Moderate Buy” and an average target price of $17.33.

WEBTOON Entertainment Stock Up 1.9 %

The company has a 50 day simple moving average of $11.39 and a 200-day simple moving average of $11.71. The stock has a market cap of $1.09 billion and a price-to-earnings ratio of 18.48.

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

Institutional Trading of WEBTOON Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its stake in WEBTOON Entertainment by 1,312.2% during the fourth quarter. Millennium Management LLC now owns 224,887 shares of the company’s stock valued at $3,054,000 after buying an additional 208,962 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of WEBTOON Entertainment during the 4th quarter worth approximately $54,000. D. E. Shaw & Co. Inc. raised its position in shares of WEBTOON Entertainment by 69.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,273 shares of the company’s stock worth $398,000 after purchasing an additional 11,954 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of WEBTOON Entertainment during the 4th quarter worth approximately $5,033,000. Finally, Northern Trust Corp raised its position in shares of WEBTOON Entertainment by 6.8% during the 4th quarter. Northern Trust Corp now owns 128,310 shares of the company’s stock worth $1,742,000 after purchasing an additional 8,190 shares during the period.

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.