Bumble Inc. (NASDAQ:BMBL) Short Interest Update

Bumble Inc. (NASDAQ:BMBL) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 15,440,000 shares, a decline of 10.7% from the September 15th total of 17,290,000 shares. Based on an average daily trading volume, of 3,810,000 shares, the short-interest ratio is currently 4.1 days. Currently, 16.8% of the company’s stock are sold short.

Analyst Ratings Changes

A number of research firms recently weighed in on BMBL. Wolfe Research assumed coverage on shares of Bumble in a research report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price target on the stock. Evercore ISI lowered Bumble from an “outperform” rating to an “inline” rating and reduced their target price for the company from $18.00 to $8.00 in a report on Thursday, August 8th. Morgan Stanley dropped their price target on Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Piper Sandler cut their price objective on Bumble from $13.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company decreased their target price on Bumble from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Bumble during the second quarter valued at $64,000. SG Americas Securities LLC bought a new stake in shares of Bumble during the 3rd quarter valued at about $71,000. Meeder Asset Management Inc. purchased a new position in shares of Bumble during the second quarter worth about $82,000. Headlands Technologies LLC bought a new position in shares of Bumble in the second quarter worth approximately $94,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bumble in the second quarter valued at approximately $111,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Stock Performance

Shares of NASDAQ:BMBL traded up $0.14 during midday trading on Tuesday, reaching $6.90. 2,315,352 shares of the company traded hands, compared to its average volume of 3,136,678. The firm’s fifty day moving average price is $6.46 and its two-hundred day moving average price is $9.03. The firm has a market capitalization of $870.77 million, a price-to-earnings ratio of 39.76 and a beta of 1.66. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. Bumble has a 12 month low of $4.80 and a 12 month high of $15.90.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, equities analysts expect that Bumble will post 0.77 earnings per share for the current year.

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.