Momo Inc (MOMO) Sees Unusually-High Trading Volume
Momo Inc (NASDAQ:MOMO) saw an uptick in trading volume on Thursday . 2,630,116 shares changed hands during mid-day trading, an increase of 200% from the previous session’s volume of 877,670 shares.The stock last traded at $11.50 and had previously closed at $9.91.
Several research firms have issued reports on MOMO. Zacks Investment Research upgraded Momo from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, April 14th. TheStreet upgraded Momo from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th.
The firm’s 50-day moving average price is $11.65 and its 200 day moving average price is $12.84. The stock has a market capitalization of $2.07 billion and a price-to-earnings ratio of 194.67.
Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, May 17th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. On average, equities analysts forecast that Momo Inc will post $0.25 EPS for the current year.
A hedge fund recently raised its stake in Momo stock. Morgan Stanley boosted its stake in Momo Inc (NASDAQ:MOMO) by 33.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,425,728 shares of the company’s stock after buying an additional 603,103 shares during the period. Morgan Stanley owned 1.38% of Momo worth $38,859,000 at the end of the most recent quarter.
Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company enables users to establish social relationships based on location and interests. Its platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners.
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