Momo Inc. (MOMO) Sees Significant Increase in Short Interest
Momo Inc. (NASDAQ:MOMO) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 6,138,359 shares, an increase of 135.5% from the August 15th total of 2,606,814 shares. Approximately 4.0% of the company’s stock are sold short. Based on an average daily volume of 13,118,427 shares, the days-to-cover ratio is currently 0.5 days.
Momo (MOMO) opened at 36.57 on Friday. Momo has a 12-month low of $16.73 and a 12-month high of $46.69. The stock has a market cap of $7.21 billion, a P/E ratio of 28.68 and a beta of 1.94. The stock has a 50 day moving average price of $40.52 and a 200-day moving average price of $38.16.
Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, August 22nd. The information services provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Momo had a return on equity of 38.94% and a net margin of 27.00%. The business had revenue of $312.20 million for the quarter, compared to analysts’ expectations of $287.84 million. The business’s revenue for the quarter was up 31120.0% on a year-over-year basis. On average, equities analysts expect that Momo will post $1.67 earnings per share for the current year.
MOMO has been the topic of several recent research reports. Vetr upgraded Momo from a “hold” rating to a “buy” rating and set a $46.24 price target on the stock in a report on Monday, May 22nd. Jefferies Group LLC restated a “buy” rating and set a $52.00 price target (up previously from $42.00) on shares of Momo in a report on Wednesday, May 24th. J P Morgan Chase & Co downgraded Momo from an “overweight” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Wednesday, May 24th. Deutsche Bank AG upgraded Momo from a “hold” rating to a “buy” rating and upped their price target for the stock from $30.00 to $52.00 in a report on Wednesday, May 24th. Finally, HSBC Holdings plc upped their price target on Momo from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.64.
Several large investors have recently added to or reduced their stakes in MOMO. Morgan Stanley lifted its stake in shares of Momo by 818.0% in the first quarter. Morgan Stanley now owns 11,834,761 shares of the information services provider’s stock worth $403,211,000 after acquiring an additional 10,545,573 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of Momo in the first quarter worth about $132,531,000. BlackRock Inc. lifted its stake in shares of Momo by 2,664.8% in the second quarter. BlackRock Inc. now owns 3,580,416 shares of the information services provider’s stock worth $132,331,000 after acquiring an additional 3,450,915 shares in the last quarter. OZ Management LP acquired a new position in shares of Momo in the first quarter worth about $101,658,000. Finally, Tairen Capital Ltd lifted its stake in shares of Momo by 194.7% in the first quarter. Tairen Capital Ltd now owns 3,663,687 shares of the information services provider’s stock worth $124,822,000 after acquiring an additional 2,420,520 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.
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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.
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