Short Interest in Bumble Inc. (NASDAQ:BMBL) Drops By 6.4%

Bumble Inc. (NASDAQ:BMBL - Get Free Report) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 9,430,000 shares, a decrease of 6.4% from the November 30th total of 10,080,000 shares. Approximately 12.8% of the company's shares are sold short. Based on an average daily trading volume, of 2,370,000 shares, the short-interest ratio is presently 4.0 days.

Bumble Stock Down 3.0 %

NASDAQ:BMBL traded down $0.25 during mid-day trading on Tuesday, hitting $8.14. The company had a trading volume of 1,617,145 shares, compared to its average volume of 2,980,724. Bumble has a 1 year low of $4.80 and a 1 year high of $15.05. The business has a fifty day simple moving average of $8.04 and a 200-day simple moving average of $7.82. 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 firm has a market capitalization of $880.60 million, a price-to-earnings ratio of -1.66 and a beta of 1.71.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup increased their price target on Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Piper Sandler reissued a "neutral" rating and issued a $8.00 price target (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Bumble from $9.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, November 7th. KeyCorp lowered shares of Bumble from an "overweight" rating to a "sector weight" rating in a report on Friday, September 27th. Finally, Susquehanna raised their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Bumble presently has an average rating of "Hold" and an average target price of $8.38.

Institutional Investors Weigh In On Bumble

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Bumble in the 3rd quarter worth $71,000. Capital Management Associates Inc acquired a new position in shares of Bumble in the third quarter worth about $74,000. D.A. Davidson & CO. purchased a new position in Bumble in the third quarter valued at about $77,000. Meeder Asset Management Inc. acquired a new stake in Bumble during the 2nd quarter valued at approximately $82,000. Finally, Quantinno Capital Management LP acquired a new stake in Bumble during the 3rd quarter valued at approximately $90,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

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.