Stock Traders Buy High Volume of Call Options on Sina (SINA)
Sina (NASDAQ:SINA) was the target of some unusual options trading on Wednesday. Investors bought 18,113 call options on the company, Stock Ratings Network.com reports. This is an increase of approximately 111% compared to the average daily volume of 8,602 call options.
A number of analysts have recently weighed in on SINA shares. Analysts at Zacks reiterated a “neutral” rating on shares of Sina (NASDAQ:SINA) in a research note to investors on Tuesday. They now have a $84.00 price target on the stock. Separately, 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. Finally, 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.
Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $87.05.
Sina (NASDAQ:SINA) traded up 3.90% on Wednesday, hitting $82.50. The stock had a trading volume of 2,480,760 shares. Sina has a 52-week low of $41.14 and a 52-week high of $87.86. The stock’s 50-day moving average is $80.33 and its 200-day moving average is $61.95. The company’s market cap is $5.512 billion.
Sina (NASDAQ:SINA) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.05 earnings per share. Sina’s revenue was up 19.7% compared to the same quarter last year. Analysts expect that Sina will post $0.93 EPS 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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