Bumble Inc. (NASDAQ:BMBL) Short Interest Up 21.2% in February

Bumble Inc. (NASDAQ:BMBL - Get Free Report) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 12,940,000 shares, an increase of 21.2% from the February 13th total of 10,680,000 shares. Based on an average trading volume of 3,030,000 shares, the days-to-cover ratio is presently 4.3 days. Currently, 18.1% of the company's stock are short sold.

Bumble Trading Down 1.9 %

Shares of BMBL stock traded down $0.09 during trading hours on Friday, hitting $4.53. 5,658,846 shares of the company were exchanged, compared to its average volume of 3,013,426. Bumble has a 1 year low of $4.46 and a 1 year high of $12.49. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The firm has a fifty day moving average of $6.64 and a 200 day moving average of $7.18. The firm has a market cap of $478.12 million, a PE ratio of -0.93 and a beta of 1.77.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in shares of Bumble in the 3rd quarter worth about $911,000. Los Angeles Capital Management LLC purchased a new position in Bumble in the third quarter valued at approximately $181,000. Entropy Technologies LP acquired a new position in Bumble during the third quarter valued at approximately $187,000. Victory Capital Management Inc. grew its stake in Bumble by 470.7% during the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company's stock worth $1,595,000 after buying an additional 206,215 shares during the period. Finally, Factorial Partners LLC purchased a new position in shares of Bumble in the 3rd quarter valued at $185,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

BMBL has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Wolfe Research downgraded shares of Bumble from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. dropped their target price on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Evercore ISI reduced their price target on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Finally, Susquehanna dropped their price objective on Bumble from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.25.

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.