Momo Inc. (MOMO) Sees Large Decrease in Short Interest
Momo Inc. (NASDAQ:MOMO) was the target of a significant decline in short interest in August. As of August 15th, there was short interest totalling 2,606,814 shares, a decline of 30.5% from the July 31st total of 3,749,087 shares. Based on an average trading volume of 3,803,803 shares, the short-interest ratio is presently 0.7 days. Currently, 1.7% of the shares of the company are sold short.
Several analysts have recently weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of Momo in a report on Wednesday, August 16th. Standpoint Research assumed coverage on shares of Momo in a report on Wednesday. They issued a “buy” rating and a $44.00 target price on the stock. Vetr downgraded shares of Momo from a “buy” rating to a “hold” rating and set a $44.67 target price on the stock. in a report on Wednesday, May 17th. Zacks Investment Research downgraded shares of Momo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, TheStreet raised shares of Momo from a “c+” rating to a “b” rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.13.
Shares of Momo (NASDAQ MOMO) opened at 38.20 on Friday. The company’s 50-day moving average is $41.84 and its 200-day moving average is $37.44. Momo has a 12-month low of $16.73 and a 12-month high of $46.69. The stock has a market cap of $7.54 billion, a P/E ratio of 29.96 and a beta of 1.95.
Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Momo had a net margin of 27.00% and a return on equity of 38.94%. The company had revenue of $312.20 million during the quarter, compared to analyst estimates of $287.84 million. The company’s revenue for the quarter was up 31120.0% on a year-over-year basis. On average, analysts expect that Momo will post $1.67 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Momo during the second quarter valued at $101,000. D.A. Davidson & CO. acquired a new position in Momo during the second quarter valued at $136,000. Benjamin F. Edwards & Company Inc. acquired a new position in Momo during the second quarter valued at $155,000. Alta Advisers Ltd acquired a new position in Momo during the second quarter valued at $156,000. Finally, ETF Managers Group LLC acquired a new position in Momo during the second quarter valued at $200,000. Institutional investors own 38.75% of the company’s stock.
Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company’s Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform.
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