Sina Sees Unusually High Options Volume (SINA)
Shares of Sina (NASDAQ:SINA) saw some unusual options trading on Tuesday. Traders acquired 9,920 put options on the stock, AnalystRatingsNetwork.com reports. This is an increase of approximately 100% compared to the average volume of 4,957 put options.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Sina (NASDAQ:SINA) in a research note to investors on Friday, August 30th. They set an “overweight” rating on the stock. Separately, analysts at Citigroup Inc. upgraded shares of Sina (NASDAQ:SINA) from a “sell” rating to a “buy” rating in a research note to investors on Wednesday, August 14th. They now have a $100.00 price target on the stock, up previously from $80.00. Finally, analysts at Oppenheimer raised their price target on shares of Sina (NASDAQ:SINA) from $70.00 to $90.00 in a research note to investors on Tuesday, August 13th. They now have an “outperform” rating on the stock.
Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Sina currently has an average rating of “Buy” and a consensus target price of $85.65.
Sina (NASDAQ:SINA) traded up 3.29% during mid-day trading on Tuesday, hitting $84.56. 2,022,690 shares of the company’s stock traded hands. Sina has a 1-year low of $41.14 and a 1-year high of $86.00. The stock’s 50-day moving average is $75.90 and its 200-day moving average is $59.44. The company’s market cap is $5.650 billion.
Sina (NASDAQ:SINA) last announced its earnings results on Monday, August 12th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.09. The company had revenue of $157.50 million for the quarter, compared to the consensus estimate of $145.18 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. On average, analysts predict that Sina will post $0.92 earnings per share for the current fiscal year.
SINA Corporation (NASDAQ:SINA) is an online media company serving China and the global Chinese communities.
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