Mondee (NASDAQ:MOND) Shares Down 1.5% – Here’s What Happened

Mondee Holdings, Inc. (NASDAQ:MOND) traded down 1.5% during trading on Tuesday . The stock traded as low as $1.26 and last traded at $1.28. 41,475 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 124,417 shares. The stock had previously closed at $1.30.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Northland Securities cut their price target on shares of Mondee from $4.50 to $4.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Roth Mkm cut their price target on shares of Mondee from $4.10 to $3.25 and set a “buy” rating for the company in a report on Thursday, August 15th.

Mondee Price Performance

The firm has a market cap of $111.02 million, a PE ratio of -1.12 and a beta of -0.05. The stock’s fifty day moving average price is $1.49 and its 200-day moving average price is $2.02.

Mondee (NASDAQ:MOND) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.21). The company had revenue of $58.33 million for the quarter, compared to analysts’ expectations of $61.22 million. During the same period in the prior year, the firm posted ($0.12) EPS. On average, sell-side analysts anticipate that Mondee Holdings, Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mondee

Hedge funds and other institutional investors have recently bought and sold shares of the company. Simplicity Wealth LLC boosted its stake in Mondee by 11.5% during the second quarter. Simplicity Wealth LLC now owns 42,587 shares of the company’s stock worth $102,000 after buying an additional 4,390 shares during the period. Bank of New York Mellon Corp boosted its stake in Mondee by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 123,928 shares of the company’s stock worth $297,000 after buying an additional 4,774 shares during the period. Catalina Capital Group LLC purchased a new position in Mondee during the second quarter worth about $30,000. Vanguard Group Inc. boosted its stake in Mondee by 1.0% during the first quarter. Vanguard Group Inc. now owns 2,226,684 shares of the company’s stock worth $5,144,000 after buying an additional 21,943 shares during the period. Finally, Bleakley Financial Group LLC purchased a new position in Mondee during the first quarter worth about $89,000. 32.14% of the stock is currently owned by institutional investors and hedge funds.

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.