Momo Inc (MOMO) Trading Down 6.2%
Momo Inc (NASDAQ:MOMO) shares fell 6.2% on Tuesday . The company traded as low as $8.88 and last traded at $9.33, with a volume of 851,791 shares changing hands. The stock had previously closed at $9.95.
A number of research firms recently weighed in on MOMO. Zacks Investment Research lowered shares of Momo from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. TheStreet upgraded shares of Momo from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th.
The company’s 50-day moving average price is $11.70 and its 200-day moving average price is $12.88. The stock has a market capitalization of $1.97 billion and a PE ratio of 185.33.
Momo (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, May 17th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Equities research analysts anticipate that Momo Inc will post $0.25 earnings per share for the current fiscal year.
A hedge fund recently raised its stake 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 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 SEC filing.
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.