Momo Inc (MOMO) Trading 4.5% Higher
Momo Inc (NASDAQ:MOMO) shares traded up 4.5% during trading on Thursday . The company traded as high as $13.15 and last traded at $12.76, with a volume of 719,436 shares trading hands. The stock had previously closed at $12.21.
A number of research analysts recently commented on the stock. 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 firm has a 50 day moving average price of $11.66 and a 200 day moving average price of $12.73. The firm has a market capitalization of $2.22 billion and a PE ratio of 208.33.
Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, May 17th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. On average, equities analysts predict that Momo Inc will post $0.25 EPS for the current fiscal year.
A hedge fund recently raised its stake in Momo stock. Morgan Stanley raised its stake in shares of Momo Inc (NASDAQ:MOMO) by 33.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,425,728 shares of the company’s stock after buying an additional 603,103 shares during the period. Morgan Stanley owned about 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.