Momo Inc (MOMO) Sees Large Volume Increase
Momo Inc (NASDAQ:MOMO) saw unusually-strong trading volume on Thursday . Approximately 3,958,496 shares traded hands during trading, an increase of 162% from the previous session’s volume of 1,508,170 shares.The stock last traded at $16.02 and had previously closed at $15.58.
Separately, Zacks Investment Research raised Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd.
The company’s 50 day moving average price is $13.24 and its 200 day moving average price is $12.83. The firm has a market capitalization of $2.84 billion and a price-to-earnings ratio of 266.83.
Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, August 16th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business earned $99 million during the quarter, compared to the consensus estimate of $30.70 million. On average, analysts expect that Momo Inc will post $0.25 EPS for the current year.
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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