SINA Corp (NASDAQ:SINA) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 1,722,900 shares, a decrease of 6.6% from the June 30th total of 1,844,000 shares. Based on an average trading volume of 901,200 shares, the days-to-cover ratio is presently 1.9 days. Approximately 2.8% of the shares of the stock are sold short.

NASDAQ SINA traded up $0.51 during trading hours on Thursday, reaching $35.66. The company’s stock had a trading volume of 1,290,400 shares, compared to its average volume of 835,782. The company’s fifty day simple moving average is $40.00. The firm has a market capitalization of $2.53 billion, a PE ratio of 21.04 and a beta of 1.37. SINA has a 52 week low of $32.99 and a 52 week high of $72.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.61 and a current ratio of 2.61.

SINA (NASDAQ:SINA) last issued its quarterly earnings data on Thursday, May 23rd. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.29. The business had revenue of $475.10 million during the quarter, compared to analyst estimates of $477.57 million. SINA had a net margin of 6.06% and a return on equity of 3.47%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.47 EPS. On average, sell-side analysts expect that SINA will post 1.95 earnings per share for the current year.

A number of research firms have recently commented on SINA. Bank of America dropped their target price on shares of SINA from $120.00 to $108.00 and set a “buy” rating for the company in a report on Monday, May 27th. Goldman Sachs Group raised shares of SINA from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $71.00 to $61.00 in a report on Friday, May 31st. Macquarie cut shares of SINA from an “outperform” rating to a “neutral” rating and set a $38.00 target price for the company. in a report on Friday, May 24th. Benchmark dropped their target price on shares of SINA from $108.00 to $78.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Zacks Investment Research cut shares of SINA from a “hold” rating to a “strong sell” rating in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $75.69.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. raised its holdings in SINA by 4.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,570 shares of the technology company’s stock valued at $271,000 after buying an additional 190 shares during the last quarter. Lindbrook Capital LLC raised its holdings in SINA by 66.8% during the 1st quarter. Lindbrook Capital LLC now owns 482 shares of the technology company’s stock worth $28,000 after purchasing an additional 193 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in SINA by 0.7% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,000 shares of the technology company’s stock worth $1,777,000 after purchasing an additional 200 shares during the last quarter. Boston Partners raised its holdings in SINA by 1.3% during the 1st quarter. Boston Partners now owns 18,614 shares of the technology company’s stock worth $1,103,000 after purchasing an additional 241 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in SINA by 4.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,734 shares of the technology company’s stock worth $1,726,000 after purchasing an additional 263 shares during the last quarter. Institutional investors and hedge funds own 64.69% of the company’s stock.

About SINA

SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.

Read More: Understanding debt-to-equity ratio in fundamental analysis

Receive News & Ratings for SINA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SINA and related companies with MarketBeat.com's FREE daily email newsletter.