ValuEngine Upgrades 500.com (WBAI) to “Buy”

ValuEngine upgraded shares of 500.com (NYSE:WBAI) from a hold rating to a buy rating in a report published on Thursday.

WBAI traded down $0.42 during midday trading on Thursday, hitting $12.80. 8,995 shares of the company were exchanged, compared to its average volume of 30,316. 500.com has a 1-year low of $5.22 and a 1-year high of $23.22.

500.com (NYSE:WBAI) last announced its quarterly earnings results on Tuesday, November 6th. The company reported ($0.35) earnings per share for the quarter. The company had revenue of $4.38 million for the quarter. 500.com had a negative return on equity of 25.38% and a negative net margin of 231.56%.

An institutional investor recently raised its position in 500.com stock. Krane Funds Advisors LLC increased its holdings in shares of 500.com Ltd (NYSE:WBAI) by 26.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,350 shares of the company’s stock after acquiring an additional 10,831 shares during the period. Krane Funds Advisors LLC owned approximately 0.12% of 500.com worth $579,000 as of its most recent SEC filing. 11.28% of the stock is currently owned by hedge funds and other institutional investors.

500.com Company Profile

500.com Limited, through its subsidiaries, provides online gaming services primarily in the People's Republic of China and Europe. It operates online gaming sites, such as Multilotto.com or Multilotto.net in Curacao, Malta, the United Kingdom, and Ireland, as well as provides users with various casino services, including online slot machines and online table games.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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