Momo Inc (NASDAQ:MOMO) shares were up 6.3% during mid-day trading on Monday . The company traded as high as $16.08 and last traded at $15.94, with a volume of 2,386,720 shares changing hands. The stock had previously closed at $15.00.

Separately, Zacks Investment Research upgraded Momo from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd.

The firm’s 50 day moving average is $13.09 and its 200-day moving average is $12.81. The stock has a market cap of $2.86 billion and a price-to-earnings ratio of 268.17.

Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, August 16th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. The company had revenue of $99 million for the quarter, compared to the consensus estimate of $30.70 million. Equities analysts anticipate that Momo Inc will post $0.25 earnings per share for the current year.

A hedge fund recently raised its stake in Momo stock. Morgan Stanley increased its stake 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. 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 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.

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