Momo Inc (MOMO) Trading Down 3.4%
Momo Inc (NASDAQ:MOMO) shares dropped 3.4% on Wednesday . The company traded as low as $12.03 and last traded at $12.19, with a volume of 629,197 shares trading hands. The stock had previously closed at $12.62.
MOMO has been the topic of a number of research reports. TheStreet raised Momo from a “sell” rating to a “hold” rating in a report on Wednesday, April 6th. Zacks Investment Research raised Momo from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Thursday, April 14th.
The stock has a market cap of $2.17 billion and a price-to-earnings ratio of 203.50. The firm’s 50-day moving average price is $11.63 and its 200 day moving average price is $12.75.
Momo (NASDAQ:MOMO) last released its earnings results on Tuesday, May 17th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. On average, equities research analysts anticipate that Momo Inc will post $0.25 EPS for the current fiscal year.
A hedge fund recently raised its stake in Momo stock. Morgan Stanley increased its position in shares of 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 fund 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 as of its most recent SEC filing.
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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