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Mondee (NASDAQ:MOND) Shares Up 3.5%

Financial News Live · Jan 21, 2023 08:21

Mondee Holdings, Inc. (NASDAQ:MOND – Get Rating) shares shot up 3.5% during mid-day trading on Thursday . The company traded as high as $9.56 and last traded at $9.56. 444 shares changed hands during trading, a decline of 96% from the average session volume of 11,231 shares. The stock had previously closed at $9.24.

Analysts Set New Price Targets

A number of research firms recently issued reports on MOND. Tigress Financial assumed coverage on shares of Mondee in a research report on Thursday, December 29th. They set a "buy" rating and a $16.00 target price for the company. DA Davidson reduced their target price on Mondee from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, November 11th. Finally, Roth Capital initiated coverage on Mondee in a research note on Tuesday, December 13th. They set a "buy" rating and a $12.00 target price for the company.

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Mondee Stock Down 5.2 %

The business's 50 day simple moving average is $9.53.

Mondee (NASDAQ:MOND – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). The firm had revenue of $39.47 million during the quarter, compared to the consensus estimate of $41.09 million. On average, sell-side analysts expect that Mondee Holdings, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity

In other Mondee news, CEO Prasad Gundumogula purchased 9,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were bought at an average cost of $9.08 per share, with a total value of $81,720.00. Following the completion of the acquisition, the chief executive officer now owns 6,333,648 shares of the company's stock, valued at $57,509,523.84. The purchase was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have acquired 40,800 shares of company stock valued at $348,868.

Hedge Funds Weigh In On Mondee

Institutional investors have recently bought and sold shares of the stock. UBS Group AG purchased a new position in Mondee in the 3rd quarter worth about $50,000. Cantor Fitzgerald L. P. purchased a new position in Mondee in the 3rd quarter worth about $696,000. Finally, Barclays PLC purchased a new position in Mondee in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 17.10% of the company's stock.

About Mondee

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Mondee Holdings, Inc operates as a travel technology company in the leisure and corporate travel markets in the United States and internationally. The company operates through two segments, Travel Marketplace and SaaS Platform. The Travel Marketplace segment primarily engages in sale of airline tickets through its platform.