Bumble (NASDAQ:BMBL) Shares Gap Down - Should You Sell?

Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) 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

Several research firms recently commented on BMBL. KeyCorp lowered Bumble from an "overweight" rating to a "sector weight" rating in a research report on Friday, September 27th. Stifel Nicolaus lifted their price target on shares of Bumble from $6.50 to $7.00 and gave the stock a "hold" rating in a research note on Thursday, November 7th. Piper Sandler restated a "neutral" rating and set a $8.00 target price (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Susquehanna boosted their price target on Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group raised their price objective on Bumble from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.38.

Bumble Trading Up 1.6 %

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 stock has a market cap of $876.27 million, a price-to-earnings ratio of -1.66 and a beta of 1.71. The company has a fifty day simple moving average of $8.07 and a 200-day simple moving average of $7.83.

Hedge Funds Weigh In On Bumble

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

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.