Momo Inc (MOMO) Sees Unusually-High Trading Volume
Shares of Momo Inc (NASDAQ:MOMO) saw strong trading volume on Wednesday . 4,560,482 shares changed hands during trading, an increase of 94% from the previous session’s volume of 2,356,229 shares.The stock last traded at $19.66 and had previously closed at $19.80.
Separately, Zacks Investment Research raised Momo from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd.
The stock has a 50 day moving average of $14.54 and a 200 day moving average of $13.13. The stock has a market capitalization of $3.98 billion and a PE ratio of 150.036.
Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, August 16th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $99 million for the quarter, compared to the consensus estimate of $30.70 million. On average, equities research analysts forecast 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’s Momo 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. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform.
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