Momo Inc (MOMO) Short Interest Update

Momo Inc (NASDAQ:MOMO) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 2,644,232 shares, a growth of 7.4% from the March 15th total of 2,461,023 shares. Based on an average daily trading volume, of 5,667,234 shares, the short-interest ratio is currently 0.5 days.

A number of analysts have weighed in on MOMO shares. Zacks Investment Research lowered shares of Momo from a “buy” rating to a “hold” rating in a research report on Wednesday, January 4th. Vetr lowered shares of Momo from a “strong-buy” rating to a “buy” rating and set a $25.47 target price on the stock. in a research report on Monday, January 23rd. TheStreet lowered shares of Momo from a “b-” rating to a “c+” rating in a research report on Thursday, January 26th. Jefferies Group LLC started coverage on shares of Momo in a research report on Wednesday, February 8th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Instinet started coverage on shares of Momo in a research report on Monday, February 13th. They issued a “buy” rating and a $34.00 target price on the stock. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $34.19.

Shares of Momo (NASDAQ:MOMO) traded up 0.68% during trading on Friday, hitting $38.32. 3,213,905 shares of the stock were exchanged. Momo has a 52 week low of $8.88 and a 52 week high of $39.25. The stock’s 50 day moving average price is $33.82 and its 200 day moving average price is $25.49. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 53.22 and a beta of 1.86.

Momo (NASDAQ:MOMO) last posted its earnings results on Tuesday, March 7th. The information services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.11. Momo had a net margin of 19.51% and a return on equity of 13.50%. The firm earned $246.10 million during the quarter, compared to analysts’ expectations of $195.78 million. The firm’s quarterly revenue was up 523.0% on a year-over-year basis. On average, equities analysts predict that Momo will post $1.38 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Momo by 18,390.7% in the third quarter. JPMorgan Chase & Co. now owns 83,578 shares of the information services provider’s stock valued at $1,881,000 after buying an additional 83,126 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Momo by 9.1% in the fourth quarter. Renaissance Technologies LLC now owns 769,000 shares of the information services provider’s stock valued at $14,134,000 after buying an additional 64,100 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Momo by 15.0% in the fourth quarter. Guggenheim Capital LLC now owns 51,012 shares of the information services provider’s stock valued at $938,000 after buying an additional 6,654 shares in the last quarter. SC China Holding Ltd. bought a new stake in Momo during the third quarter valued at approximately $73,123,000. Finally, Hsbc Holdings PLC boosted its stake in Momo by 1,013.3% in the third quarter. Hsbc Holdings PLC now owns 490,230 shares of the information services provider’s stock valued at $11,030,000 after buying an additional 446,198 shares in the last quarter. 14.76% of the stock is owned by hedge funds and other institutional investors.

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About Momo

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.

5 Day Chart for NASDAQ:MOMO

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