Bumble Inc. (NASDAQ:BMBL) Sees Large Drop in Short Interest

Bumble Inc. (NASDAQ:BMBL - Get Free Report) saw a large drop in short interest in January. As of January 15th, there was short interest totalling 8,810,000 shares, a drop of 6.6% from the December 31st total of 9,430,000 shares. Based on an average daily volume of 2,310,000 shares, the short-interest ratio is currently 3.8 days. Approximately 12.0% of the company's stock are short sold.

Bumble Stock Performance

Shares of BMBL traded up $0.12 during trading hours on Friday, reaching $8.49. 2,369,581 shares of the company traded hands, compared to its average volume of 2,020,143. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The stock's fifty day moving average is $8.06 and its 200 day moving average is $7.50. Bumble has a 1-year low of $4.80 and a 1-year high of $14.08. The stock has a market cap of $918.45 million, a P/E ratio of -1.74 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

Large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in shares of Bumble in the fourth quarter valued at $56,000. SG Americas Securities LLC bought a new stake in Bumble in the third quarter valued at about $71,000. Capital Management Associates Inc acquired a new position in Bumble in the third quarter worth about $74,000. D.A. Davidson & CO. bought a new position in Bumble during the third quarter worth about $77,000. Finally, Quantinno Capital Management LP bought a new position in shares of Bumble during the 3rd quarter worth approximately $90,000. Institutional investors and hedge funds own 94.85% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on BMBL. Wolfe Research downgraded Bumble from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Susquehanna raised their price target on shares of Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their price objective on shares of Bumble from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Morgan Stanley increased their target price on shares of Bumble from $7.50 to $8.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Finally, Stifel Nicolaus boosted their price target on Bumble from $6.50 to $7.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $8.50.

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.