Momo Inc (MOMO) Trading Up 5.3%
Shares of Momo Inc (NASDAQ:MOMO) were up 5.3% during mid-day trading on Wednesday . The stock traded as high as $9.86 and last traded at $9.86, with a volume of 539,875 shares. The stock had previously closed at $9.36.
Several analysts have recently issued reports on MOMO shares. TheStreet upgraded Momo from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st.
The stock has a 50 day moving average of $11.79 and a 200-day moving average of $12.90. The company has a market capitalization of $1.76 billion and a P/E ratio of 165.17.
Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, May 17th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Analysts expect 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 boosted its stake in shares of Momo Inc (NASDAQ:MOMO) by 33.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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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