Momo Inc (MOMO) Trading Up 4.5%
Momo Inc (NASDAQ:MOMO) shares were up 4.5% during trading on Thursday . The stock traded as high as $13.15 and last traded at $12.76, with a volume of 719,436 shares trading hands. The stock had previously closed at $12.21.
Several research analysts recently commented on MOMO shares. TheStreet raised Momo from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. Zacks Investment Research cut Momo from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st.
The stock’s 50 day moving average is $11.63 and its 200 day moving average is $12.75. The company has a market capitalization of $2.25 billion and a P/E ratio of 211.50.
Momo (NASDAQ:MOMO) last announced its earnings results on Tuesday, May 17th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. On average, equities analysts anticipate that Momo Inc will post $0.25 earnings per share for the current year.
A hedge fund recently raised its stake in Momo stock. Morgan Stanley increased its stake in shares of Momo Inc (NASDAQ:MOMO) by 33.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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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