Short Interest in Bumble Inc. (NASDAQ:BMBL) Decreases By 21.9%

Bumble Inc. (NASDAQ:BMBL) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 12,510,000 shares, a drop of 21.9% from the October 15th total of 16,020,000 shares. Approximately 13.6% of the company’s stock are short sold. Based on an average daily volume of 3,100,000 shares, the days-to-cover ratio is currently 4.0 days.

Bumble Price Performance

NASDAQ BMBL traded down $0.36 during trading hours on Friday, hitting $7.87. 1,921,262 shares of the company’s stock traded hands, compared to its average volume of 3,121,357. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.38. The firm’s 50-day moving average is $6.94 and its 200-day moving average is $8.54. Bumble has a 52-week low of $4.80 and a 52-week high of $15.90. The company has a market capitalization of $995.87 million, a PE ratio of -1.61 and a beta of 1.62.

Hedge Funds Weigh In On Bumble

A number of institutional investors have recently added to or reduced their stakes in BMBL. Innealta Capital LLC purchased a new stake in shares of Bumble during the 2nd quarter valued at approximately $64,000. SG Americas Securities LLC purchased a new stake in Bumble in the third quarter valued at $71,000. Capital Management Associates Inc acquired a new position in shares of Bumble in the 3rd quarter valued at $74,000. D.A. Davidson & CO. acquired a new position in shares of Bumble in the 3rd quarter valued at $77,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Bumble during the 2nd quarter worth $82,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Analyst Ratings Changes

BMBL has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Piper Sandler restated a “neutral” rating and issued a $8.00 target price (up previously from $7.00) on shares of Bumble in a research note on Thursday, November 7th. TD Cowen lowered Bumble from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $7.50 in a report on Friday, August 16th. BTIG Research cut Bumble from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus upped their target price on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Bumble has a consensus rating of “Hold” and a consensus target price of $8.38.

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.