Short Interest in Bumble Inc. (NASDAQ:BMBL) Expands By 8.8%

Bumble Inc. (NASDAQ:BMBL) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 10,490,000 shares, a growth of 8.8% from the January 15th total of 9,640,000 shares. Based on an average daily volume of 2,150,000 shares, the days-to-cover ratio is currently 4.9 days. Currently, 14.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group upped their price objective on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Susquehanna upped their price objective 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. Finally, Morgan Stanley upped their price objective on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bumble currently has a consensus rating of “Hold” and an average target price of $8.50.

Bumble Trading Up 0.7 %

NASDAQ:BMBL traded up $0.06 during trading hours on Friday, reaching $8.46. 1,897,090 shares of the company were exchanged, compared to its average volume of 1,876,360. The stock has a 50 day simple moving average of $8.05 and a 200 day simple moving average of $7.45. Bumble has a 52-week low of $4.80 and a 52-week high of $14.08. 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 firm has a market cap of $915.20 million, a price-to-earnings ratio of -1.73 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently made changes to their positions in BMBL. FNY Investment Advisers LLC purchased a new position in shares of Bumble in the 4th quarter valued at $56,000. Tower Research Capital LLC TRC raised its stake in shares of Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after acquiring an additional 1,249 shares during the period. SG Americas Securities LLC purchased a new position in shares of Bumble in the 3rd quarter valued at $71,000. Capital Management Associates Inc purchased a new position in shares of Bumble in the 3rd quarter valued at $74,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Bumble in the 3rd quarter valued at $77,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.