Mondee (NASDAQ:MOND) Shares Down 2.4% - Here's What Happened

Mondee Holdings, Inc. (NASDAQ:MOND - Get Free Report) was down 2.4% during mid-day trading on Monday . The stock traded as low as $1.19 and last traded at $1.21. Approximately 50,789 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 127,772 shares. The stock had previously closed at $1.24.

Analysts Set New Price Targets

Several equities analysts recently commented on MOND shares. Roth Mkm reduced their price objective on shares of Mondee from $4.10 to $3.25 and set a "buy" rating for the company in a research note on Thursday, August 15th. Northland Securities reduced their price objective on shares of Mondee from $4.50 to $4.00 and set an "outperform" rating for the company in a research note on Thursday, August 15th.

Mondee Trading Up 2.5 %

The stock's fifty day moving average is $1.85 and its 200 day moving average is $2.14. The company has a market capitalization of $103.60 million, a P/E ratio of -1.19 and a beta of -0.05.

Mondee (NASDAQ:MOND - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.21). The company had revenue of $58.33 million for the quarter, compared to the consensus estimate of $61.22 million. During the same period in the prior year, the company earned ($0.12) EPS. On average, analysts expect that Mondee Holdings, Inc. will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Mondee by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 2,226,684 shares of the company's stock worth $5,144,000 after purchasing an additional 21,943 shares in the last quarter. Tidal Investments LLC bought a new position in Mondee in the 1st quarter worth $675,000. Bank of New York Mellon Corp raised its holdings in Mondee by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 123,928 shares of the company's stock worth $297,000 after purchasing an additional 4,774 shares in the last quarter. Simplicity Wealth LLC raised its holdings in Mondee by 11.5% in the 2nd quarter. Simplicity Wealth LLC now owns 42,587 shares of the company's stock worth $102,000 after purchasing an additional 4,390 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new position in shares of Mondee in the 1st quarter worth about $89,000. 32.14% of the stock is currently owned by institutional investors.

Mondee Company Profile

Mondee Holdings, Inc operates as a travel technology company in the leisure and corporate travel markets in the United States and internationally. The company operates through two segments, Travel Marketplace and SaaS Platform. The Travel Marketplace segment primarily engages in sale of airline tickets through its platform.