Momo Inc (MOMO) Trading 8.2% Higher
Momo Inc (NASDAQ:MOMO) shares traded up 8.2% during mid-day trading on Monday . The company traded as high as $14.65 and last traded at $14.32, with a volume of 1,380,118 shares traded. The stock had previously closed at $13.23.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Momo from a “sell” rating to a “hold” rating in a research note on Tuesday. TheStreet upgraded Momo from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th.
The firm’s 50-day moving average is $11.97 and its 200 day moving average is $12.60. The company has a market cap of $2.67 billion and a P/E ratio of 250.17.
Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, May 17th. The company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. Analysts predict that Momo Inc will post $0.25 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Momo stock. Morgan Stanley increased its position in Momo Inc (NASDAQ:MOMO) by 33.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 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.
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