Momo Inc (NASDAQ:MOMO) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 3,259,488 shares, a growth of 44.5% from the December 31st total of 2,255,440 shares, ARN reports. Based on an average daily trading volume, of 1,461,207 shares, the short-interest ratio is currently 2.2 days.

Shares of Momo (NASDAQ:MOMO) opened at 11.91 on Friday. Momo has a 52 week low of $9.50 and a 52 week high of $19.89. The company’s market cap is $2.10 billion. The firm’s 50-day moving average price is $14.37 and its 200 day moving average price is $13.77.

Momo (NASDAQ:MOMO) last announced its earnings results on Thursday, November 19th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $37.50 million for the quarter. The firm’s revenue for the quarter was up 204.9% compared to the same quarter last year. On average, equities research analysts forecast that Momo will post $0.14 EPS for the current year.

An institutional investor recently raised its position in Momo stock. Top Ace Asset Management increased its stake in Momo Inc (NASDAQ:MOMO) by 133.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 700,000 shares of the company’s stock after buying an additional 400,000 shares during the period. Momo makes up 10.7% of Top Ace Asset Management’s investment portfolio, making the stock its 2nd largest position. Top Ace Asset Management’s holdings in Momo were worth $11,214,000 at the end of the most recent quarter.

Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered Momo from a “hold” rating to a “sell” rating in a research note on Monday, November 2nd. Morgan Stanley reaffirmed an “underweight” rating and set a $13.00 price target on shares of Momo in a research note on Thursday, December 17th.

Momo Inc. is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company enables users to establish social relationships based on location and interests. Its platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform. The Momo mobile application is available on android, iOS and Windows platforms. Momo features various location and interest-based features, such as Nearby People, Groups, Message Board, Topics and Nearby Events, multi-media instant messaging tools, as well as mobile games. Its other services include emoticons and mobile marketing services. Its virtual store features emoticons designed in-house and by third-parties.

12 Month Chart for NASDAQ:MOMO

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