Traders Purchase Large Volume of Call Options on Sina (SINA)
Sina (NASDAQ:SINA) saw some unusual options trading on Thursday. Investors acquired 24,682 call options on the company, Stock Ratings Network.com reports. This represents an increase of approximately 192% compared to the typical daily volume of 8,443 call options.
SINA has been the subject of a number of recent research reports. 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 analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Sina currently has an average rating of “Buy” and a consensus price target of $85.65.
Sina (NASDAQ:SINA) traded down 0.20% during mid-day trading on Thursday, hitting $84.99. The stock had a trading volume of 2,864,629 shares. Sina has a one year low of $41.14 and a one year high of $86.80. The stock has a 50-day moving average of $77.09 and a 200-day moving average of $59.8. The company’s market cap is $5.679 billion.
Sina (NASDAQ:SINA) last posted its quarterly 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.