Momo Inc. (NASDAQ:MOMO) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 6,138,359 shares, a growth of 135.5% from the August 15th total of 2,606,814 shares. Based on an average daily trading volume, of 13,118,427 shares, the days-to-cover ratio is currently 0.5 days. Currently, 4.0% of the company’s shares are sold short.

A number of research firms have commented on MOMO. Vetr raised shares of Momo from a “buy” rating to a “strong-buy” rating and set a $42.17 price objective for the company in a research note on Wednesday. TheStreet raised shares of Momo from a “c+” rating to a “b” rating in a research note on Monday, August 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of Momo in a research note on Wednesday, August 16th. Standpoint Research began coverage on shares of Momo in a research note on Wednesday, August 30th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Momo from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $40.89.

Momo (MOMO) opened at 37.31 on Thursday. Momo has a one year low of $16.73 and a one year high of $46.69.

Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. Momo had a return on equity of 38.94% and a net margin of 27.00%. The firm had revenue of $312.20 million for the quarter, compared to analysts’ expectations of $287.84 million. The company’s revenue for the quarter was up 31120.0% on a year-over-year basis. Equities research analysts anticipate that Momo will post $1.67 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Momo during the 2nd quarter valued at about $101,000. D.A. Davidson & CO. bought a new position in shares of Momo during the 2nd quarter valued at about $136,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Momo during the 2nd quarter valued at about $155,000. Alta Advisers Ltd bought a new position in shares of Momo during the 2nd quarter valued at about $156,000. Finally, ETF Managers Group LLC bought a new position in shares of Momo during the 2nd quarter valued at about $200,000. Institutional investors and hedge funds own 39.16% of the company’s stock.

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About Momo

Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company’s Momo 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.

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