MakeMyTrip (NASDAQ:MMYT) Sets New 52-Week Low - Here's What Happened
MakeMyTrip (NASDAQ:MMYT) shares hit a new 52-week low, trading as low as $74.64. Analyst ratings include a downgrade from Wall Street Zen to 'sell' and a 'hold' rating from Weiss Ratings. Citigroup reduced its target price to $120.00 but maintained a 'buy' rating. Institutional investors, including Clough Capital Partners, have been active in trading MMYT shares. The stock has a market cap of $8.51 billion and a P/E ratio of 119.50. Despite a Moderate Buy consensus, some analysts suggest better investment options.
MakeMyTrip Limited (NASDAQ:MMYT - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $74.64 and last traded at $76.7350, with a volume of 886110 shares. The stock had previously closed at $76.08.
Analyst Ratings Changes
- TripAdvisor is on AI-powered recovery from record lows
A number of research analysts recently weighed in on MMYT shares. Wall Street Zen lowered shares of MakeMyTrip from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Weiss Ratings began coverage on shares of MakeMyTrip in a research report on Thursday, October 30th. They set a "hold (c)" rating for the company. Finally, Citigroup reduced their target price on shares of MakeMyTrip from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.
Get Our Latest Stock Analysis on MMYT
MakeMyTrip Stock Performance
- Are These 3 Travel-Related Stocks Actionable After Big Rallies?
The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 38.85. The business has a 50 day moving average price of $89.92 and a 200 day moving average price of $95.84. The stock has a market cap of $8.51 billion, a P/E ratio of 119.50 and a beta of 0.87.
Institutional Trading of MakeMyTrip
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Clough Capital Partners L P boosted its stake in shares of MakeMyTrip by 765.4% during the third quarter. Clough Capital Partners L P now owns 152,822 shares of the technology company's stock valued at $14,304,000 after purchasing an additional 135,162 shares during the period. California Public Employees Retirement System purchased a new position in MakeMyTrip in the 3rd quarter worth about $10,758,000. Aquatic Capital Management LLC bought a new stake in MakeMyTrip during the 3rd quarter valued at about $4,367,000. Creative Planning boosted its position in MakeMyTrip by 25.7% in the 3rd quarter. Creative Planning now owns 3,038 shares of the technology company's stock valued at $284,000 after buying an additional 621 shares during the period. Finally, Credit Agricole S A bought a new position in MakeMyTrip in the 3rd quarter worth about $4,148,000. Hedge funds and other institutional investors own 51.89% of the company's stock.
MakeMyTrip Company Profile
(Get Free Report)- MakeMyTrip Stock is an Under-the-Radar Play
MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.
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