Short Interest in Bumble Inc. (NASDAQ:BMBL) Rises By 8.8%

Bumble Inc. (NASDAQ:BMBL) was the recipient of a large 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. Based on an average trading volume of 2,150,000 shares, the short-interest ratio is presently 4.9 days. Currently, 14.3% of the company’s shares are sold short.

Bumble Stock Performance

Bumble stock traded up $0.06 during midday trading on Monday, reaching $8.46. 1,897,090 shares of the company’s stock were exchanged, compared to its average volume of 1,876,360. The stock’s 50-day simple moving average is $8.05 and its 200 day simple moving average is $7.45. The firm 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 quick ratio of 2.09 and a current ratio of 2.09. Bumble has a 52 week low of $4.80 and a 52 week high of $14.08.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Susquehanna boosted their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Morgan Stanley increased their target price on shares of Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Citigroup boosted their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $8.00 price objective (up previously from $7.00) on shares of Bumble in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new stake in shares of Bumble during the third quarter worth $911,000. Victory Capital Management Inc. increased its stake in Bumble by 470.7% during the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after acquiring an additional 206,215 shares during the period. JPMorgan Chase & Co. raised its holdings in Bumble by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after acquiring an additional 2,760 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Bumble by 11.3% during the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after purchasing an additional 6,325 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Bumble by 437.5% during the 3rd quarter. Creative Planning now owns 54,055 shares of the company’s stock worth $345,000 after purchasing an additional 43,998 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors.

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.