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

Bumble Inc. (NASDAQ:BMBL) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 10,490,000 shares, an increase 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 short-interest ratio is currently 4.9 days. Approximately 14.3% of the company’s stock are short sold.

Institutional Trading of Bumble

Hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in Bumble in the 4th quarter valued at about $56,000. Tower Research Capital LLC TRC lifted its position in Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after purchasing an additional 1,249 shares during the last quarter. SG Americas Securities LLC bought a new stake in Bumble in the 3rd quarter valued at about $71,000. Capital Management Associates Inc bought a new stake in Bumble in the 3rd quarter valued at about $74,000. Finally, D.A. Davidson & CO. bought a new stake in Bumble in the 3rd quarter valued at about $77,000. 94.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BMBL. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Susquehanna raised their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Morgan Stanley raised their price objective on shares of Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.50.

Bumble Stock Performance

Shares of Bumble stock traded up $0.06 during trading hours on Friday, reaching $8.46. The company’s stock had a trading volume of 1,897,090 shares, compared to its average volume of 1,876,360. The stock has a market cap of $915.20 million, a P/E ratio of -1.73 and a beta of 1.70. The company’s 50 day simple moving average is $8.05 and its 200 day simple moving average is $7.45. Bumble has a one year low of $4.80 and a one year high of $14.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

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.