SINA Corp (NASDAQ:SINA) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 1,626,499 shares, a growth of 32.8% from the February 15th total of 1,225,181 shares. Based on an average daily trading volume, of 1,120,227 shares, the short-interest ratio is currently 1.5 days. Currently, 3.1% of the shares of the stock are sold short.
A number of research analysts have recently issued reports on the company. BidaskClub lowered SINA from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Jefferies Group reiterated a “buy” rating and set a $175.00 target price on shares of SINA in a research report on Wednesday, January 24th. Zacks Investment Research upgraded SINA from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on SINA from $175.00 to $179.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, Benchmark raised their price objective on SINA from $157.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. SINA currently has a consensus rating of “Buy” and a consensus price target of $139.00.
Hedge funds have recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in SINA in the 4th quarter valued at $126,000. Financial Gravity Companies Inc. acquired a new stake in shares of SINA in the 4th quarter worth $137,000. Stifel Financial Corp acquired a new stake in shares of SINA in the 3rd quarter worth $210,000. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of SINA in the 3rd quarter worth $214,000. Finally, B. Riley Financial Inc. acquired a new stake in shares of SINA in the 4th quarter worth $234,000. Institutional investors own 66.10% of the company’s stock.
SINA (NASDAQ:SINA) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.29. The company had revenue of $503.70 million for the quarter, compared to analyst estimates of $482.59 million. SINA had a return on equity of 3.99% and a net margin of 9.89%. The firm’s revenue for the quarter was up 62.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. equities research analysts forecast that SINA will post 3.1 earnings per share for the current fiscal year.
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Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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