Bumble (NASDAQ:BMBL) Hits New 1-Year Low - Here's Why

Bumble Inc. (NASDAQ:BMBL - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.61 and last traded at $4.70, with a volume of 235151 shares. The stock had previously closed at $4.89.

Analyst Upgrades and Downgrades

BMBL has been the subject of a number of analyst reports. Citigroup lowered their price objective on Bumble from $8.00 to $6.80 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Piper Sandler lowered their price objective on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Evercore ISI lowered their price objective on Bumble from $8.00 to $7.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Finally, Wolfe Research downgraded Bumble from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.52.

Bumble Stock Performance

The company has a market cap of $549.56 million, a PE ratio of -1.04 and a beta of 1.77. 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 company has a 50-day moving average of $7.34 and a 200-day moving average of $7.32.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning raised its stake in shares of Bumble by 437.5% in the third quarter. Creative Planning now owns 54,055 shares of the company's stock valued at $345,000 after buying an additional 43,998 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Bumble during the 3rd quarter valued at $246,000. Principal Financial Group Inc. bought a new stake in shares of Bumble during the 3rd quarter valued at $911,000. Los Angeles Capital Management LLC purchased a new position in Bumble during the third quarter worth about $181,000. Finally, Versor Investments LP grew its position in Bumble by 25.3% during the third quarter. Versor Investments LP now owns 38,600 shares of the company's stock worth $246,000 after buying an additional 7,800 shares in the last quarter. 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.