Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bumble Inc shares valued at $27,845,378 were sold by BTOA – NQ L.L.C. on Mar 03 ’24. At $11.10 per share, BTOA – NQ L.L.C. sold 2,509,316 shares. The insider’s holdings dropped to 12,802 shares worth approximately $0.14 million following the completion of this transaction.
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Also, BCP Buzz Holdings L.P. sold 2,509,316 shares, netting a total of over 27,845,378 in proceeds. Following the sale of shares at $11.10 each, the insider now holds 12,802 shares.
Before that, BX Buzz ML-1 GP LLC had sold 2,509,316 shares from its account. In a trade valued at $27,845,378, the 10% Owner traded Bumble Inc shares for $11.10 each. Upon closing the transaction, the insider’s holdings decreased to 2,509,316 shares, worth approximately $0.14 million.
As published in a research note from BTIG Research on February 28, 2024, Bumble Inc [BMBL] has been retained to a Buy and the price target has been revised to $15. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in early December. Earlier on September 29, 2023, Loop Capital upgraded its rating. Their new recommendation was “a Buy” for BMBL stock which previously was a “a Hold”.
Analyzing BMBL Stock Performance
During the last five days, there has been a surge of approximately 2.86%. Over the course of the year, Bumble Inc shares have dropped approximately -26.80%. Shares of the company reached a 52-week high of $15.05 on 01/09/24 and a 52-week low of $10.36 on 03/15/24. A 50-day SMA is recorded $12.74, while a 200-day SMA reached $14.96. Nevertheless, trading volume fell to 2.46 million shares from 2.38 million shares the previous day.
Support And Resistance Levels for Bumble Inc (BMBL)
According to the 24-hour chart, there is a support level at 10.67, which, if violated, would cause prices to drop to 10.55. In the upper region, resistance lies at 11.01. The next price resistance is at 11.23. RSI (Relative Strength Index) is 37.18 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.05, which suggests the price will decrease in the coming days. Percent R is at 63.25%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Bumble Inc subject to short interest?
Stocks of Bumble Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 1.86 million shares to 10.9 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 9.04 million shares. A jump of 17.06% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.65 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.65.
