Bumble Inc. (NASDAQ:BMBL) Short Interest Update

Bumble Inc. (NASDAQ:BMBL) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 12,940,000 shares, a growth of 21.2% from the February 13th total of 10,680,000 shares. Based on an average daily volume of 3,030,000 shares, the short-interest ratio is currently 4.3 days. Approximately 18.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BMBL. FNY Investment Advisers LLC bought a new position in Bumble in the fourth quarter worth approximately $56,000. Tower Research Capital LLC TRC raised its position in shares of Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after purchasing an additional 1,249 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Bumble during the 3rd quarter valued at $77,000. Quantinno Capital Management LP bought a new stake in shares of Bumble during the 3rd quarter valued at $90,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Bumble by 56.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after purchasing an additional 4,000 shares during the period. 94.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BMBL shares. Piper Sandler cut their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Susquehanna cut their price target on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Royal Bank of Canada cut their price target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Evercore ISI cut their price target on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.25.

Bumble Stock Up 3.9 %

BMBL opened at $5.01 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. Bumble has a 1-year low of $4.58 and a 1-year high of $12.49. The company has a market capitalization of $528.79 million, a PE ratio of -1.02 and a beta of 1.77. The firm’s 50 day simple moving average is $6.89 and its two-hundred day simple moving average is $7.24.

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.