Bumble (NASDAQ:BMBL) Sets New 1-Year Low – Here’s Why

Shares of Bumble Inc. (NASDAQ:BMBL) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $4.61 and last traded at $4.70, with a volume of 235151 shares trading hands. The stock had previously closed at $4.89.

Analyst Upgrades and Downgrades

BMBL has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Evercore ISI cut their price target on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus cut their price target on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley lifted their price target on shares of Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Piper Sandler cut their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Bumble currently has an average rating of “Hold” and a consensus target price of $7.59.

Bumble Stock Down 4.2 %

The company has a market capitalization of $506.83 million, a price-to-earnings ratio of -0.96 and a beta of 1.70. The business’s 50-day moving average is $7.54 and its 200-day moving average is $7.36. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Bumble during the fourth quarter valued at $149,000. Mackenzie Financial Corp acquired a new position in shares of Bumble in the fourth quarter worth about $406,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Bumble by 26.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company’s stock worth $1,887,000 after acquiring an additional 48,207 shares during the period. Wexford Capital LP purchased a new stake in shares of Bumble during the fourth quarter worth about $98,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Bumble during the fourth quarter worth about $476,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

About Bumble

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.