Momo Inc (MOMO) Sees Unusually-High Trading Volume
Shares of Momo Inc (NASDAQ:MOMO) saw an uptick in trading volume on Wednesday . 4,560,482 shares changed hands during trading, an increase of 94% from the previous session’s volume of 2,356,229 shares.The stock last traded at $19.66 and had previously closed at $19.80.
Separately, Zacks Investment Research upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd.
The firm has a market capitalization of $3.72 billion and a PE ratio of 140.07. The firm has a 50-day moving average price of $13.95 and a 200 day moving average price of $13.03.
Momo (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, August 16th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. The company earned $99 million during the quarter, compared to analysts’ expectations of $30.70 million. Equities research analysts expect that Momo Inc will post $0.25 EPS for the current fiscal year.
Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company’s Momo 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. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform.
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