• Return to Headlines

Downgrade Alert for Sina (SINA)

By Amy Schwartz

Sina (NASDAQ:SINA) was downgraded from Buy to Hold at Maxim today. The stock closed yesterday at $67.33 on volume of 5.1 million shares, above average daily volume of 3.7 million.

In the past 52 weeks, shares of Sina have traded between a low of $45.54 and a high of $92.83 and closed yesterday at $67.33, which is 48% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1.4%.

SINA Corporation is a global Internet media company operating Chinese-language destination sites. The Company offers a network of branded content and services targeting people of Chinese descent worldwide. SINA.com offers online news, entertainment, community, and commerce through web sites that are produced and updated by local teams in China, Hong Kong, Taiwan, and North America.

Sina (NASDAQ:SINA) has potential upside of 37.2% based on a current price of $67.33 and analysts' consensus price target of $92.38. The stock should find initial resistance at its 50-day moving average (MA) of $72.33 and further resistance at its 200-day MA of $74.25.

SmarTrend is monitoring the recent change of momentum in Sina. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Sina in search of a potential trend change.

Keywords: analyst upgrades/downgrades

Ticker(s): SINA