Could 58.com Inc (ADR) Rise More? The Stock Had Bearish Options Activity

 Could 58.com Inc (ADR) Rise More? The Stock Had Bearish Options Activity

In today’s session 58.com Inc (ADR) (WUBA) recorded an unusually high (316) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious WUBA decrease. With 316 contracts traded and 5294 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: WUBA161216P00040000 closed last at: $1.5 or 7.1% up. About 588,134 shares traded hands. 58.com Inc (ADR) (NYSE:WUBA) has declined 24.54% since March 29, 2016 and is downtrending. It has underperformed by 28.01% the S&P500.

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

Out of 10 analysts covering 58.com (NYSE:WUBA), 7 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 70% are positive. $65 is the highest target while $48 is the lowest. The $59.88 average target is 43.08% above today’s ($41.85) stock price. 58.com has been the topic of 10 analyst reports since August 21, 2015 according to StockzIntelligence Inc. As per Tuesday, September 1, the company rating was upgraded by Morgan Stanley. Brean Capital initiated the shares of WUBA in a report on Friday, June 3 with “Buy” rating. The firm has “Outperform” rating given on Friday, July 8 by Macquarie Research. The stock of 58.com Inc (ADR) (NYSE:WUBA) has “Sell” rating given on Thursday, October 15 by CLSA. Deutsche Bank initiated 58.com Inc (ADR) (NYSE:WUBA) on Wednesday, October 5 with “Buy” rating. The firm earned “Buy” rating on Tuesday, December 15 by HSBC. The rating was initiated by Credit Agricole on Thursday, October 15 with “Sell”.

According to Zacks Investment Research, “58.com Inc. operates online marketplace serving local merchants and consumers in China. It offers housing rental, recruitment, second-hand product, travel, catering, entertainment, and group-buying information. 58.com Inc. is based in Beijing, China.”

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 $5.98 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.

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 Marketwatch.com published the news titled: “/quotes/zigman/3870025/realtime” on October 31, 2013. Fool.com‘s news article titled: “Why 58.com Inc (ADR) Stock Skyrocketed Today” with publication date: April 14, 2015 was also an interesting one.

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