Bumble Inc. (NASDAQ:BMBL) Short Interest Update

Bumble Inc. (NASDAQ:BMBL) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 12,940,000 shares, an increase of 21.2% from the February 13th total of 10,680,000 shares. Approximately 18.1% of the shares of the stock are sold short. Based on an average trading volume of 3,030,000 shares, the short-interest ratio is currently 4.3 days.

Analysts Set New Price Targets

A number of brokerages recently commented on BMBL. The Goldman Sachs Group decreased their price target on Bumble from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company cut their price target on shares of Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada decreased their price target on Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Piper Sandler lowered their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.25.

Bumble Price Performance

Bumble stock opened at $4.61 on Wednesday. The firm has a market cap of $486.57 million, a P/E ratio of -0.94 and a beta of 1.77. The stock’s 50 day moving average is $6.82 and its 200 day moving average is $7.23. 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 one year low of $4.57 and a one year high of $12.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. acquired a new stake in shares of Bumble during the third quarter worth $911,000. Los Angeles Capital Management LLC acquired a new stake in Bumble during the 3rd quarter worth about $181,000. Entropy Technologies LP bought a new position in shares of Bumble in the 3rd quarter worth about $187,000. Victory Capital Management Inc. lifted its stake in shares of Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after purchasing an additional 206,215 shares during the period. Finally, Factorial Partners LLC bought a new stake in shares of Bumble during the 3rd quarter valued at about $185,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.