Momo Inc (MOMO) Short Interest Down 23.7% in September
Momo Inc (NASDAQ:MOMO) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 2,938,267 shares, a decrease of 23.7% from the August 31st total of 3,849,556 shares. Based on an average trading volume of 5,353,889 shares, the days-to-cover ratio is presently 0.5 days. Approximately 2.0% of the company’s stock are sold short.
A number of equities analysts have weighed in on the company. Credit Suisse Group AG assumed coverage on Momo in a report on Wednesday, September 14th. They issued an “outperform” rating and a $29.00 price target for the company. Zacks Investment Research upgraded Momo from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, September 8th. Morgan Stanley upgraded Momo from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $12.70 to $28.00 in a research note on Tuesday, September 6th. Finally, JPMorgan Chase & Co. assumed coverage on Momo in a research note on Wednesday, August 31st. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $28.00.
Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in Momo by 80.4% in the second quarter. Public Employees Retirement System of Ohio now owns 10,100 shares of the company’s stock worth $102,000 after buying an additional 4,500 shares during the period. KCG Holdings Inc. purchased a new stake in shares of Momo during the second quarter valued at $102,000. BlackRock Inc. raised its stake in shares of Momo by 282.6% in the second quarter. BlackRock Inc. now owns 12,395 shares of the company’s stock valued at $125,000 after buying an additional 9,155 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Momo during the second quarter valued at $133,000. Finally, Geode Capital Management LLC raised its stake in shares of Momo by 24.4% in the first quarter. Geode Capital Management LLC now owns 18,305 shares of the company’s stock valued at $205,000 after buying an additional 3,592 shares during the last quarter.
Momo (NASDAQ:MOMO) opened at 23.06 on Thursday. The stock’s 50 day moving average price is $21.11 and its 200 day moving average price is $15.19. The stock has a market capitalization of $4.37 billion, a PE ratio of 164.71 and a beta of 2.05. Momo has a 1-year low of $6.72 and a 1-year high of $25.62.
Momo (NASDAQ:MOMO) last released its earnings results on Tuesday, August 16th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The business earned $99 million during the quarter, compared to analyst estimates of $30.70 million. Equities research analysts forecast that Momo will post $0.47 earnings per share for the current year.
Momo Company Profile
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.
Receive News & Stock Ratings for Momo Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momo Inc and related stocks with our FREE daily email newsletter.