Short Interest in Bumble Inc. (NASDAQ:BMBL) Expands By 8.8%

Bumble Inc. (NASDAQ:BMBL - Get Free Report) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 10,490,000 shares, a growth of 8.8% from the January 15th total of 9,640,000 shares. Based on an average daily volume of 2,150,000 shares, the days-to-cover ratio is currently 4.9 days. Approximately 14.3% of the company's stock are short sold.

Bumble Stock Performance

NASDAQ BMBL traded down $0.19 during trading on Thursday, reaching $5.46. 7,820,857 shares of the company's stock were exchanged, compared to its average volume of 2,961,617. The business has a 50 day moving average price of $7.92 and a 200-day moving average price of $7.42. The stock has a market capitalization of $590.12 million, a P/E ratio of -1.12 and a beta of 1.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $13.36.

Institutional Investors Weigh In On Bumble

Several institutional investors have recently made changes to their positions in BMBL. FNY Investment Advisers LLC bought a new stake in shares of Bumble in the fourth quarter valued at approximately $56,000. Tower Research Capital LLC TRC boosted its stake in shares of Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock valued at $60,000 after buying an additional 1,249 shares during the period. SG Americas Securities LLC bought a new stake in shares of Bumble in the third quarter valued at approximately $71,000. Capital Management Associates Inc bought a new stake in shares of Bumble in the third quarter valued at approximately $74,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Bumble in the third quarter valued at approximately $77,000. 94.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on BMBL. Piper Sandler dropped their price target on Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday. Citigroup dropped their price target on Bumble from $8.00 to $6.80 and set a "neutral" rating on the stock in a research note on Wednesday. Wolfe Research downgraded Bumble from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Stifel Nicolaus lowered their target price on Bumble from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley lifted their target price on Bumble from $7.50 to $8.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $8.05.

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.