Momo Inc (MOMO) Trading 8.2% Higher
Shares of Momo Inc (NASDAQ:MOMO) traded up 8.2% on Monday . The company traded as high as $14.65 and last traded at $14.32, with a volume of 1,380,118 shares changing hands. The stock had previously closed at $13.23.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. TheStreet upgraded Momo from a “sell” rating to a “hold” rating in a report on Wednesday, April 6th.
The firm’s 50 day moving average price is $11.83 and its 200-day moving average price is $12.60. The company has a market capitalization of $2.56 billion and a price-to-earnings ratio of 240.67.
Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, May 17th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Analysts anticipate 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 boosted its position in shares of Momo Inc (NASDAQ:MOMO) by 33.1% during the fourth quarter, according to its most recent disclosure 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.
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