The analysts in coverage downgraded BMBL to "underweight" from "neutral"
Dating platform Bumble Inc (NASDAQ:BMBL) was last seen down 4.8% at $5.47, after a downgrade from J.P. Morgan to "underweight" from "neutral." The firm noted a challenging market, raising doubts about the product's alignment with Generation Z values, and long-term growth prospects.
Though the stock is trading at its lowest levels since early May, the 80-day moving average is swooping in to prevent further losses today. The shares have yet to recover from their steep mid-February bear gap, and are now down 32% year to date.
The majority of analysts are hesitant on Bumble stock, with only three of the 17 in coverage carrying a "buy" or better, 13 a "hold," and one a "sell." Meanwhile, short interest represents 16.8% of the stock's available float, or four day's worth of pent-up buying power.
It's also worth noting Bumble stock's Schaeffer's Volatility Scorecard (SVS) of 85 out of 100 means it has tended to outperform options traders' volatility expectations over the past year, a boon for options buyers.