Momo Inc (MOMO) Sees Strong Trading Volume
Momo Inc (NASDAQ:MOMO) shares saw an uptick in trading volume on Thursday . 2,630,116 shares were traded during trading, an increase of 200% from the previous session’s volume of 877,670 shares.The stock last traded at $11.50 and had previously closed at $9.91.
MOMO has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. TheStreet upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th.
The company’s 50-day moving average is $11.66 and its 200-day moving average is $12.87. The firm has a market capitalization of $2.07 billion and a price-to-earnings ratio of 194.17.
Momo (NASDAQ:MOMO) last released its earnings results on Tuesday, May 17th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. On average, equities research analysts expect that Momo Inc will post $0.25 EPS for the current year.
An institutional investor recently raised its position in Momo stock. Morgan Stanley boosted its position 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 (SEC). 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 approximately 1.38% of Momo worth $38,859,000 as of its most recent filing with the SEC.
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.