Short Interest in Bumble Inc. (NASDAQ:BMBL) Declines By 6.6%

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMBL. FNY Investment Advisers LLC bought a new stake in Bumble during the fourth quarter worth approximately $56,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Bumble during the 2nd quarter valued at $111,000. SG Americas Securities LLC bought a new stake in shares of Bumble in the 3rd quarter worth $71,000. Capital Management Associates Inc acquired a new stake in shares of Bumble in the third quarter valued at $74,000. Finally, D.A. Davidson & CO. bought a new position in Bumble during the third quarter valued at about $77,000. 94.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BMBL has been the subject of several recent research reports. Susquehanna boosted their target price on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus raised their target price on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. Finally, Citigroup raised their price target on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.50.

Bumble Price Performance

BMBL traded down $0.08 on Monday, reaching $8.03. The company had a trading volume of 1,262,649 shares, compared to its average volume of 2,047,626. The company has a market capitalization of $868.69 million, a P/E ratio of -1.64 and a beta of 1.70. 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 company has a fifty day moving average of $8.10 and a 200-day moving average of $7.50. Bumble has a one year low of $4.80 and a one year high of $14.08.

Bumble Company Profile

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.