Noteworthy Short Interest Filing: 58com Incorporated (NYSE:WUBA) Sellers Increased By 8.48% Their Shorts

November 21, 2016 - By kentuckypostne   ·   0 Comments

Noteworthy Short Interest Filing: 58com Incorporated (NYSE:WUBA) Sellers Increased By 8.48% Their Shorts

The stock of 58com Incorporated (NYSE:WUBA) registered an increase of 8.48% in short interest. WUBA’s total short interest was 10.29 million shares in November as published by FINRA. Its up 8.48% from 9.49 million shares, reported previously. With 1.66 million shares average volume, it will take short sellers 6 days to cover their WUBA’s short positions. The short interest to 58com Incorporated’s float is 12.58%. About 595,610 shares traded hands. 58.com Inc (ADR) (NYSE:WUBA) has declined 43.03% since April 19, 2016 and is downtrending. It has underperformed by 46.89% the S&P500.

58.com Inc. is a holding company. The Company’s business consists of its online classifieds and listing platforms. The company has a market cap of $4.52 billion. The Company’s online classifieds and listings platforms enable local merchants and clients to connect, share information and conduct business in China. It currently has negative earnings. These platforms include 58, Ganji and Anjuke. 58 and Ganji are online multi-content category-classified advertising platforms, while Anjuke is an online real estate listing platform.

58.com Inc (ADR) (NYSE:WUBA) Ratings Coverage

Out of 11 analysts covering 58.com (NYSE:WUBA), 5 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 45% are positive. 58.com has been the topic of 14 analyst reports since August 21, 2015 according to StockzIntelligence Inc. Macquarie Research initiated the stock with “Outperform” rating in Friday, July 8 report. The rating was downgraded by HSBC on Tuesday, November 15 to “Hold”. As per Friday, November 11, the company rating was downgraded by Credit Suisse. The company was upgraded on Tuesday, September 1 by Morgan Stanley. Deutsche Bank initiated 58.com Inc (ADR) (NYSE:WUBA) rating on Wednesday, October 5. Deutsche Bank has “Buy” rating and $65 price target. Brean Capital initiated 58.com Inc (ADR) (NYSE:WUBA) rating on Friday, June 3. Brean Capital has “Buy” rating and $65 price target. On Tuesday, December 15 the stock rating was initiated by HSBC with “Buy”. CLSA downgraded 58.com Inc (ADR) (NYSE:WUBA) on Friday, November 11 to “Underperform” rating. On Thursday, October 15 the stock rating was initiated by CLSA with “Sell”. Brean Capital downgraded the shares of WUBA in a report on Friday, November 11 to “Neutral” rating.

WUBA Company Profile

58.com Inc., incorporated on May 1, 2011, is a holding company. The Company’s business consists of its online classifieds and listing platforms. The Company’s online classifieds and listings platforms enable local merchants and clients to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke. 58 and Ganji are online multi-content category-classified advertising platforms, while Anjuke is an online real estate listing platform. In addition, 58 Daojia Inc. (58 Home), its subsidiary, operates a mobile closed-loop transactional platform for home services, which directly connects clients and individual service providers for local services, such as home cleaning, moving services and manicure services provided at home.

More recent 58.com Inc (ADR) (NYSE:WUBA) news were published by: Fool.com which released: “Why 58.com Inc. (ADR) Stock Plunged Today” on August 18, 2016. Also Fool.com published the news titled: “Why 58.com Inc (ADR) Stock Skyrocketed Today” on April 14, 2015. Marketwatch.com‘s news article titled: “/quotes/zigman/3870025/realtime” with publication date: October 31, 2013 was also an interesting one.

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By kentuckypostne


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