Bumble Inc’s filing revealed that its 10% Owner BTOA – NQ L.L.C. unloaded Company’s shares for reported $27.85 million on Mar 03 ’24. In the deal valued at $11.10 per share,2,509,316 shares were sold. As a result of this transaction, BTOA – NQ L.L.C. now holds 12,802 shares worth roughly $0.14 million.
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Then, BCP Buzz Holdings L.P. sold 2,509,316 shares, generating $27,845,378 in total proceeds. Upon selling the shares at $11.10, the 10% Owner now owns 12,802 shares.
Before that, BX Buzz ML-1 GP LLC sold 2,509,316 shares. Bumble Inc shares valued at $27,845,378 were divested by the 10% Owner at a price of $11.10 per share. As a result of the transaction, BX Buzz ML-1 GP LLC now holds 12,802 shares, worth roughly $0.14 million.
BTIG Research reiterated its Bumble Inc [BMBL] rating to a Buy in a research note published on February 28, 2024; the price target was $15. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in early December with a ‘”an Overweight”‘ rating. Loop Capital revised its rating on September 29, 2023. It rated BMBL as “a Buy” which previously was an “a Hold”.
Price Performance Review of BMBL
On Monday, Bumble Inc [NASDAQ:BMBL] saw its stock jump 1.38% to $11.02. Over the last five days, the stock has gained 1.85%. Bumble Inc shares have fallen nearly -25.24% since the year began. Nevertheless, the stocks have fallen -42.45% over the past one year. While a 52-week high of $21.06 was reached on 01/09/24, a 52-week low of $10.36 was recorded on 03/15/24. SMA at 50 days reached $12.61, while 200 days put it at $14.89. A total of 1.94 million shares were traded, compared to the trading of 2.76 million shares in the previous session.
Levels Of Support And Resistance For BMBL Stock
The 24-hour chart illustrates a support level at 10.86, which if violated will result in even more drops to 10.70. On the upside, there is a resistance level at 11.15. A further resistance level may holdings at 11.27. The Relative Strength Index (RSI) on the 14-day chart is 41.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.03%. Stochastics %K at 54.19% indicates the stock is a holding.
How much short interest is there in Bumble Inc?
A steep rise in short interest was recorded in Bumble Inc stocks on Feb 29, 2024, growing by 1.86 million shares to a total of 10.9 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 9.04 million shares. There was a rise of 17.06%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 19.91% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.65.
The most recent change occurred on September 26, 2023 when HSBC Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $20.30 price target.
