WEBTOON Entertainment (NASDAQ:WBTN) Shares Down 7.1% – Time to Sell?
by Scott Moore · The Cerbat GemWEBTOON Entertainment Inc. (NASDAQ:WBTN – Get Free Report) was down 7.1% on Friday . The stock traded as low as $11.21 and last traded at $11.0220. Approximately 83,717 shares traded hands during trading, a decline of 75% from the average daily volume of 337,325 shares. The stock had previously closed at $11.87.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on WBTN shares. Evercore restated an “outperform” rating and set a $15.00 target price on shares of WEBTOON Entertainment in a research note on Wednesday, March 4th. Wall Street Zen cut WEBTOON Entertainment from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. The Goldman Sachs Group reissued a “neutral” rating and set a $10.00 target price on shares of WEBTOON Entertainment in a research note on Thursday, March 5th. HSBC downgraded WEBTOON Entertainment from a “buy” rating to a “hold” rating and set a $11.50 target price for the company. in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of WEBTOON Entertainment in a research note on Monday, April 20th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.07.
Read Our Latest Research Report on WBTN
WEBTOON Entertainment Stock Down 6.2%
The business’s 50 day simple moving average is $10.39 and its two-hundred day simple moving average is $12.87. The stock has a market cap of $1.50 billion, a P/E ratio of -4.20 and a beta of 2.08.
Institutional Trading of WEBTOON Entertainment
A number of hedge funds have recently made changes to their positions in WBTN. Rockefeller Capital Management L.P. acquired a new stake in shares of WEBTOON Entertainment during the fourth quarter valued at about $27,000. FNY Investment Advisers LLC acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $39,000. State of Alaska Department of Revenue acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $55,000. BNP Paribas Financial Markets boosted its stake in shares of WEBTOON Entertainment by 103.4% during the third quarter. BNP Paribas Financial Markets now owns 3,548 shares of the company’s stock valued at $69,000 after purchasing an additional 1,804 shares in the last quarter. Finally, Chung Wu Investment Group LLC acquired a new stake in shares of WEBTOON Entertainment during the third quarter valued at about $78,000.
WEBTOON Entertainment Company Profile
Webtoon Entertainment Inc operates WEBTOON, a leading digital comics platform offering a diverse library of user-generated and professionally produced webcomics. The company enables creators around the world to publish serialized content in a vertical-scrolling format optimized for mobile and web consumption. Through its platform, readers can access thousands of titles across genres such as romance, fantasy, drama, and action, with both free-to-read episodes and advanced access options supported by microtransactions and advertising.
Founded as part of Naver Corporation and launched internationally in 2014, Webtoon Entertainment has grown rapidly by fostering a direct connection between comic creators and global audiences.