Momo Inc. (MOMO) Short Interest Down 32.9% in October
Momo Inc. (NASDAQ:MOMO) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 966,464 shares, a decline of 32.9% from the October 14th total of 1,440,066 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 2,578,378 shares, the days-to-cover ratio is presently 0.4 days.
Shares of Momo (NASDAQ:MOMO) opened at 21.72 on Thursday. The stock’s 50 day moving average price is $0.00 and its 200 day moving average price is $0.00. Momo has a 12-month low of $6.72 and a 12-month high of $28.44.
Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, August 16th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $99 million for the quarter, compared to analyst estimates of $30.70 million. Momo had a return on equity of 13.50% and a net margin of 19.51%. On average, analysts forecast that Momo will post $0.67 earnings per share for the current fiscal year.
MOMO has been the topic of several recent analyst reports. TH Capital initiated coverage on Momo in a research note on Monday, November 7th. They issued a “buy” rating and a $28.00 price target on the stock. T.H. Capital initiated coverage on Momo in a research note on Friday, November 4th. They issued a “buy” rating and a $28.00 price target on the stock. HSBC initiated coverage on Momo in a research note on Monday, October 31st. They issued a “buy” rating on the stock. Zacks Investment Research raised Momo from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, September 8th. Finally, Morgan Stanley raised Momo from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $12.70 to $28.00 in a research note on Tuesday, September 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Momo presently has an average rating of “Buy” and a consensus price target of $28.80.
Institutional investors have recently made changes to their positions in the stock. KCG Holdings Inc. bought a new position in Momo during the second quarter valued at about $102,000. Public Employees Retirement System of Ohio raised its position 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 valued at $102,000 after buying an additional 4,500 shares during the last quarter. BlackRock Inc. raised its position in 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 bought a new position in Momo during the second quarter valued at about $133,000. Finally, Advisors Preferred LLC bought a new position in Momo during the third quarter valued at about $155,000. Hedge funds and other institutional investors own 11.12% 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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