Mondee (NASDAQ:MOND) Trading Down 4.9%

Shares of Mondee Holdings, Inc. (NASDAQ:MOND) traded down 4.9% on Tuesday . The company traded as low as $2.03 and last traded at $2.15. 161,271 shares were traded during mid-day trading, an increase of 5% from the average session volume of 154,119 shares. The stock had previously closed at $2.26.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Roth Mkm decreased their price target on Mondee from $5.50 to $4.10 and set a “buy” rating for the company in a research note on Friday, March 15th. Northland Securities decreased their price target on Mondee from $6.50 to $4.50 and set an “outperform” rating for the company in a research note on Friday, March 15th. JMP Securities cut their price objective on Mondee from $7.00 to $4.25 and set a “market outperform” rating for the company in a research report on Tuesday, April 2nd. Finally, Morgan Stanley began coverage on Mondee in a research report on Friday, January 5th. They issued an “equal weight” rating and a $3.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.97.

Mondee Trading Down 4.9 %

The stock has a 50 day simple moving average of $2.27 and a 200 day simple moving average of $2.81. The stock has a market cap of $179.64 million, a P/E ratio of -2.44 and a beta of -0.05.

Mondee (NASDAQ:MOND) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The business had revenue of $61.05 million during the quarter, compared to analysts’ expectations of $55.53 million. Equities analysts anticipate that Mondee Holdings, Inc. will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Mondee

Hedge funds and other institutional investors have recently modified their holdings of the business. Savvy Advisors Inc. bought a new position in shares of Mondee in the 4th quarter valued at $28,000. SG Americas Securities LLC bought a new position in shares of Mondee in the 3rd quarter valued at $60,000. Capstone Investment Advisors LLC bought a new position in shares of Mondee in the 4th quarter valued at $138,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Mondee by 20.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 129,917 shares of the company’s stock valued at $464,000 after purchasing an additional 22,438 shares during the last quarter. Institutional investors own 32.14% of the company’s stock.

About Mondee

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.