Momo Inc. (NASDAQ:MOMO) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,612,083 shares, a decrease of 45.1% from the September 15th total of 2,938,267 shares. Based on an average trading volume of 2,474,743 shares, the short-interest ratio is currently 0.7 days. Currently, 1.1% of the shares of the stock are sold short.
A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Momo in a report on Wednesday, August 31st. They set an “overweight” rating for the company. Zacks Investment Research upgraded shares of Momo from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, September 8th. Morgan Stanley upgraded shares of Momo from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $12.70 to $28.00 in a report on Tuesday, September 6th. Finally, Credit Suisse Group AG assumed coverage on shares of Momo in a report on Wednesday, September 14th. They set an “outperform” rating and a $29.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $28.00.
Shares of Momo (NASDAQ:MOMO) opened at 23.50 on Friday. The firm has a market cap of $4.45 billion, a P/E ratio of 167.86 and a beta of 2.24. The company has a 50-day moving average of $23.55 and a 200 day moving average of $16.13. Momo has a 12-month low of $6.72 and a 12-month high of $26.65.
Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, August 16th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Momo had a net margin of 12.23% and a return on equity of 5.81%. The firm earned $99 million during the quarter, compared to analyst estimates of $30.70 million. Equities research analysts anticipate that Momo will post $0.47 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of MOMO. BlackRock Fund Advisors raised its position in shares of Momo by 116.1% in the second quarter. BlackRock Fund Advisors now owns 130,502 shares of the company’s stock valued at $1,319,000 after buying an additional 70,123 shares during the period. BlackRock Inc. raised its position 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 period. First Trust Advisors LP raised its position in shares of Momo by 13.4% in the second quarter. First Trust Advisors LP now owns 92,639 shares of the company’s stock valued at $937,000 after buying an additional 10,934 shares during the period. SG Americas Securities LLC raised its position in shares of Momo by 5.8% in the second quarter. SG Americas Securities LLC now owns 22,134 shares of the company’s stock valued at $224,000 after buying an additional 1,205 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in shares of Momo during the second quarter valued at approximately $438,000. 10.36% of the stock is owned by hedge funds and other institutional investors.
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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