Bumble Inc. (NASDAQ:BMBL) Sees Large Drop in Short Interest

Bumble Inc. (NASDAQ:BMBL) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 9,430,000 shares, a decrease of 6.4% from the November 30th total of 10,080,000 shares. Based on an average daily volume of 2,370,000 shares, the days-to-cover ratio is presently 4.0 days. Currently, 12.8% of the company’s stock are short sold.

Bumble Stock Performance

Shares of NASDAQ BMBL opened at $8.39 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $907.65 million, a P/E ratio of -1.72 and a beta of 1.71. Bumble has a 12 month low of $4.80 and a 12 month high of $15.05. The stock has a 50 day moving average of $8.00 and a 200-day moving average of $7.86.

Institutional Investors Weigh In On Bumble

Several institutional investors have recently made changes to their positions in BMBL. Rothschild Investment LLC acquired a new position in Bumble in the second quarter valued at approximately $401,000. nVerses Capital LLC boosted its holdings in shares of Bumble by 128.3% in the second quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $127,000 after acquiring an additional 6,800 shares during the period. Versor Investments LP purchased a new stake in shares of Bumble in the second quarter worth about $324,000. Victory Capital Management Inc. increased its holdings in Bumble by 20.6% during the 2nd quarter. Victory Capital Management Inc. now owns 43,810 shares of the company’s stock worth $460,000 after acquiring an additional 7,475 shares during the period. Finally, Quest Partners LLC raised its holdings in shares of Bumble by 46.3% in the 2nd quarter. Quest Partners LLC now owns 52,453 shares of the company’s stock valued at $551,000 after acquiring an additional 16,592 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BMBL shares. Citigroup lifted their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 target price (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Susquehanna lifted their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Stifel Nicolaus upped their price objective on Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Bumble currently has an average rating of “Hold” and a consensus target price of $8.38.

Bumble Company Profile

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.