Short Interest in Bumble Inc. (NASDAQ:BMBL) Decreases By 21.9%

Bumble Inc. (NASDAQ:BMBL) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 12,510,000 shares, a decrease of 21.9% from the October 15th total of 16,020,000 shares. Based on an average trading volume of 3,100,000 shares, the short-interest ratio is currently 4.0 days. Currently, 13.6% of the company’s stock are sold short.

Analyst Ratings Changes

Several research firms have recently commented on BMBL. Stifel Nicolaus boosted their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted 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. Susquehanna lifted their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company reduced their price target 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. Finally, KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.38.

Bumble Trading Down 0.1 %

Shares of Bumble stock opened at $8.23 on Friday. The firm’s 50 day simple moving average is $6.89 and its two-hundred day simple moving average is $8.56. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.68 and a beta of 1.62. Bumble has a 12-month low of $4.80 and a 12-month high of $15.90. The company has a current ratio of 2.09, a quick ratio of 2.38 and a debt-to-equity ratio of 0.75.

Institutional Investors Weigh In On Bumble

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Bumble during the 2nd quarter worth about $64,000. Meeder Asset Management Inc. purchased a new position in shares of Bumble in the second quarter worth about $82,000. Headlands Technologies LLC acquired a new stake in shares of Bumble during the second quarter worth about $94,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bumble in the second quarter valued at approximately $111,000. Finally, SG Americas Securities LLC acquired a new position in Bumble in the 3rd quarter worth approximately $71,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

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.