Short Interest in Momo Inc (NASDAQ:MOMO) Expands By 20.5%

Momo Inc (NASDAQ:MOMO) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 5,060,000 shares, a growth of 20.5% from the December 15th total of 4,200,000 shares. Based on an average daily volume of 2,480,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 3.0% of the shares of the company are sold short.

Shares of NASDAQ MOMO opened at $38.96 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.14 and a current ratio of 6.14. Momo has a 52 week low of $25.69 and a 52 week high of $41.50. The stock has a market capitalization of $8.31 billion, a P/E ratio of 19.88 and a beta of 2.18. The stock’s fifty day moving average is $36.22 and its 200 day moving average is $34.94.

Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, November 26th. The information services provider reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.05. Momo had a return on equity of 23.03% and a net margin of 15.84%. The company had revenue of $622.81 million for the quarter, compared to analysts’ expectations of $613.62 million. Equities research analysts forecast that Momo will post 1.84 earnings per share for the current year.

Several brokerages have issued reports on MOMO. UBS Group raised their price target on Momo from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. ValuEngine upgraded Momo from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Benchmark increased their price objective on Momo from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Zacks Investment Research upgraded Momo from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Saturday, January 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $44.20.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors LLC bought a new position in shares of Momo in the third quarter worth $26,000. Ayalon Holdings Ltd. bought a new position in shares of Momo in the third quarter worth $59,000. Quantum Capital Management bought a new position in shares of Momo in the third quarter worth $76,000. Tower Research Capital LLC TRC increased its position in shares of Momo by 92.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,794 shares of the information services provider’s stock worth $136,000 after purchasing an additional 1,818 shares during the period. Finally, CSat Investment Advisory L.P. bought a new position in shares of Momo in the second quarter worth $155,000. Institutional investors own 59.33% of the company’s stock.

Momo Company Profile

Momo Inc operates a mobile-based social and entertainment platform in the People's Republic of China. The company operates Momo platform that includes its Momo mobile application and various related features, functionalities, tools, and services to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations; interests; and recreational activities, including live talent shows, short videos, social games, and other video- and audio-based interactive experiences.

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