Bumble (NASDAQ:BMBL) Shares Gap Down – Time to Sell?

Bumble Inc. (NASDAQ:BMBL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $7.97, but opened at $7.56. Bumble shares last traded at $8.02, with a volume of 174,580 shares trading hands.

Analyst Ratings Changes

BMBL has been the topic of a number of research reports. KeyCorp cut shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday. Stifel Nicolaus lifted their price target on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and issued a $8.00 price objective (up previously from $7.00) on shares of Bumble in a report on Thursday, November 7th. Finally, Citigroup boosted their target price on shares of 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 assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.38.

Bumble Stock Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The company has a fifty day moving average price of $8.09 and a 200 day moving average price of $7.79. The stock has a market cap of $876.27 million, a P/E ratio of -1.66 and a beta of 1.71.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Bumble during the third quarter worth about $71,000. Capital Management Associates Inc bought a new stake in Bumble during the 3rd quarter worth approximately $74,000. D.A. Davidson & CO. purchased a new stake in shares of Bumble in the third quarter worth approximately $77,000. Meeder Asset Management Inc. bought a new position in shares of Bumble in the second quarter valued at approximately $82,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Bumble during the third quarter valued at approximately $90,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.