Bumble Inc. (NASDAQ:BMBL) Short Interest Update

Bumble Inc. (NASDAQ:BMBL) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 10,490,000 shares, a growth of 8.8% from the January 15th total of 9,640,000 shares. Approximately 14.3% of the shares of the company are short sold. Based on an average trading volume of 2,150,000 shares, the days-to-cover ratio is presently 4.9 days.

Bumble Price Performance

Shares of BMBL stock traded up $0.06 during trading hours on Monday, hitting $8.46. 1,897,090 shares of the company’s stock were exchanged, compared to its average volume of 1,876,360. Bumble has a 52 week low of $4.80 and a 52 week high of $14.08. The stock has a market cap of $915.22 million, a price-to-earnings ratio of -1.73 and a beta of 1.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The stock’s 50-day moving average is $8.05 and its 200-day moving average is $7.45.

Institutional Investors Weigh In On Bumble

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its holdings in shares of Bumble by 25.5% in the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after purchasing an additional 1,298,630 shares in the last quarter. RBF Capital LLC bought a new position in Bumble in the 4th quarter valued at $5,157,000. First Trust Advisors LP increased its stake in shares of Bumble by 429.5% in the 4th quarter. First Trust Advisors LP now owns 772,394 shares of the company’s stock valued at $6,287,000 after buying an additional 626,528 shares during the period. Barclays PLC lifted its stake in shares of Bumble by 202.9% during the fourth quarter. Barclays PLC now owns 553,186 shares of the company’s stock valued at $4,503,000 after acquiring an additional 370,568 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Bumble by 223.2% in the fourth quarter. Renaissance Technologies LLC now owns 391,100 shares of the company’s stock valued at $3,184,000 after acquiring an additional 270,093 shares during the last quarter. Institutional investors own 94.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Susquehanna upped their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Citigroup boosted their price objective on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 target price (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.50.

About Bumble

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.