Bumble Inc. (NASDAQ:BMBL) Short Interest Down 21.9% in October

Bumble Inc. (NASDAQ:BMBL - Get Free Report) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 12,510,000 shares, a decline of 21.9% from the October 15th total of 16,020,000 shares. Based on an average trading volume of 3,100,000 shares, the short-interest ratio is presently 4.0 days. Approximately 13.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

BMBL has been the subject of a number of recent research reports. Bank of America lowered shares of Bumble from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $12.00 to $5.50 in a research note on Thursday, August 8th. Hsbc Global Res lowered shares of Bumble from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 9th. The Goldman Sachs Group raised their price target on shares of Bumble from $9.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, November 7th. TD Cowen lowered Bumble from a "buy" rating to a "hold" rating and dropped their price objective for the company from $22.00 to $7.50 in a research note on Friday, August 16th. Finally, Evercore ISI lowered Bumble from an "outperform" rating to an "inline" rating and cut their price objective for the stock from $18.00 to $8.00 in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $8.38.

Bumble Stock Down 4.4 %

BMBL stock traded down $0.36 during midday trading on Friday, hitting $7.87. The stock had a trading volume of 1,921,190 shares, compared to its average volume of 3,121,357. Bumble has a 52-week low of $4.80 and a 52-week high of $15.90. The firm has a market cap of $995.87 million, a price-to-earnings ratio of -1.61 and a beta of 1.62. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.38. The business has a 50-day moving average of $6.91 and a two-hundred day moving average of $8.56.

Hedge Funds Weigh In On Bumble

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in Bumble in the 2nd quarter valued at approximately $64,000. Meeder Asset Management Inc. bought a new position in Bumble during the 2nd quarter valued at about $82,000. Headlands Technologies LLC purchased a new stake in shares of Bumble during the 2nd quarter valued at about $94,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bumble during the second quarter valued at approximately $111,000. Finally, SG Americas Securities LLC bought a new position in Bumble during the third quarter valued at approximately $71,000. Institutional investors own 94.85% of the company's stock.

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.