Bending Spoons (NASDAQ:BSP) Stock Sees Heavy Put Option Buying

Bending Spoons S.p.A. (NASDAQ:BSP) saw unusually large options trading on Wednesday. Stock investors purchased 18,583 put options on the company. This represents an increase of approximately 1,076% compared to the average volume of 1,580 put options.

Analyst Ratings Changes

Several analysts have commented on BSP shares. Mizuho set a $72.00 price objective on Bending Spoons in a report on Tuesday, August 11th. Benchmark boosted their price objective on Bending Spoons from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Jefferies Financial Group set a $38.00 target price on Bending Spoons and gave the stock a “hold” rating in a research note on Sunday, July 26th. Bank of America reduced their target price on Bending Spoons from $39.00 to $36.00 and set an “underperform” rating for the company in a research note on Tuesday, September 29th. Finally, Wall Street Zen upgraded Bending Spoons to a “hold” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Bending Spoons presently has an average rating of “Hold” and an average target price of $44.00.

Bending Spoons Trading Up 39.2%

BSP traded up $14.85 during midday trading on Wednesday, hitting $52.71. 10,753,559 shares of the company traded hands, compared to its average volume of 2,591,645. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market cap of $31.67 billion and a P/E ratio of 66.69. Bending Spoons has a 52-week low of $30.11 and a 52-week high of $58.94. The stock’s 50 day moving average price is $39.51.

Bending Spoons (NASDAQ:BSP) last announced its earnings results on Thursday, August 13th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.19. The company had revenue of $704.15 million during the quarter. The company’s revenue for the quarter was up 126.3% on a year-over-year basis. Equities research analysts anticipate that Bending Spoons will post 1.36 earnings per share for the current year.

About Bending Spoons

Bending Spoons is a technology company headquartered in Milan, Italy, that develops, operates and acquires digital products. Its portfolio spans mobile applications, software platforms and online services used by consumers, creators, professionals and businesses.

The company’s products have included Remini, an artificial-intelligence-powered photo and video enhancement application; Splice, a mobile video-editing platform; Evernote, a productivity and note-taking service; and Brightcove, a video-hosting and streaming technology provider.