Bumble Inc. (NASDAQ:BMBL) Short Interest Down 6.6% in January

Bumble Inc. (NASDAQ:BMBL) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 8,810,000 shares, a decline of 6.6% from the December 31st total of 9,430,000 shares. Based on an average daily trading volume, of 2,310,000 shares, the short-interest ratio is currently 3.8 days. Currently, 12.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BMBL shares. Piper Sandler restated a “neutral” rating and set a $8.00 price objective (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Morgan Stanley raised 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. Citigroup upped their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their target price on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, Wolfe Research downgraded shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.50.

Institutional Trading of Bumble

Large investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in Bumble in the 4th quarter worth $56,000. SG Americas Securities LLC bought a new stake in Bumble during the third quarter valued at about $71,000. Capital Management Associates Inc acquired a new stake in shares of Bumble in the third quarter valued at about $74,000. D.A. Davidson & CO. bought a new position in shares of Bumble in the third quarter worth about $77,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Bumble during the 3rd quarter worth about $90,000. 94.85% of the stock is owned by institutional investors.

Bumble Stock Performance

Bumble stock traded down $0.08 during trading hours on Monday, reaching $8.03. 1,262,649 shares of the company were exchanged, compared to its average volume of 2,047,626. Bumble has a 12 month low of $4.80 and a 12 month high of $14.08. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average of $8.10 and a 200 day moving average of $7.50. The firm has a market cap of $868.69 million, a price-to-earnings ratio of -1.64 and a beta of 1.70.

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.