Momo Inc (MOMO) Sees Unusually-High Trading Volume
Shares of Momo Inc (NASDAQ:MOMO) saw unusually-high trading volume on Thursday . Approximately 3,958,496 shares changed hands during mid-day 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 downgraded shares of Momo from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st.
The company has a market cap of $2.85 billion and a price-to-earnings ratio of 267.33. The company has a 50-day moving average price of $13.57 and a 200 day moving average price of $12.88.
Momo (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, August 16th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $99 million for the quarter, compared to analyst estimates of $30.70 million. Analysts anticipate that Momo Inc will post $0.25 earnings per share for the current fiscal 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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