Sina Corporation (SINA) : Traders are bullish on Sina Corporation (SINA) as it has outperformed the S&P 500 by a wide margin of 35.65% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 22.59%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 22.66% in the last 1 week, and is up 37.05% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 25.23% and the 50-Day Moving Average is 31.76%. Sina Corporation (NASDAQ:SINA): stock turned positive on Friday. Though the stock opened at $69.49, the bulls momentum made the stock top out at $70.62 level for the day. The stock recorded a low of $68.25 and closed the trading day at $70.54, in the green by 0.73%. The total traded volume for the day was 1,184,695. The stock had closed at $70.03 in the previous days trading.
The company Insiders own 7.4% of Sina Corporation shares according to the proxy statements. Institutional Investors own 55.64% of Sina Corporation shares. Also, Citigroup initiates coverage on Sina Corporation (NASDAQ:SINA) In a research note issued to the investors, the brokerage major announces price-target of $69 per share.The shares have been rated Buy. The rating by the firm was issued on August 5, 2016.
SINA Corporation is an online media company serving China and the global Chinese communities. The Company operates its business through three business segments: SINA Portal, Weibo and other businesses. Its digital media network of SINA.com, SINA mobile and Weibo enables Internet users to access media and users generated content (UGC) in multi-media formats from personal computers and mobile devices and share their interests with friends and acquaintances. SINA.com offers professional content on each of its region-specific Websites and a range of complementary offerings. Its mobile portal, SINA.cn, provides news information and entertainment content from SINA.com customized for mobile users in WAP (mobile browser) and mobile application format, such as SINA News, SINA Sports, SINA Finance, SINA Entertainment and SINA Blog. Weibo is a social media platform for people to create, distribute and discover Chinese-language content.