Momo Inc (MOMO) Sees Strong Trading Volume
Momo Inc (NASDAQ:MOMO) shares saw an uptick in trading volume on Tuesday . 4,290,332 shares were traded during mid-day trading, an increase of 30% from the previous session’s volume of 3,309,675 shares.The stock last traded at $22.29 and had previously closed at $22.01.
Separately, Zacks Investment Research raised Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd.
The company has a market capitalization of $4.28 billion and a PE ratio of 161.50. The company’s 50 day moving average is $15.39 and its 200-day moving average is $13.51.
Momo (NASDAQ:MOMO) last released its earnings results on Tuesday, August 16th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The business earned $99 million during the quarter, compared to the consensus estimate of $30.70 million. On average, analysts predict that Momo Inc will post $0.25 earnings per share for the current 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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