Mondee (NASDAQ:MOND) Trading Down 4.9%

Mondee Holdings, Inc. (NASDAQ:MOND)’s share price fell 4.9% during trading on Tuesday . The stock traded as low as $2.03 and last traded at $2.15. 161,271 shares changed hands 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.

Analysts Set New Price Targets

Several research firms recently commented on MOND. Roth Mkm dropped their price objective on Mondee from $5.50 to $4.10 and set a “buy” rating on the stock in a research note on Friday, March 15th. Morgan Stanley started coverage on Mondee in a research report on Friday, January 5th. They set an “equal weight” rating and a $3.00 target price on the stock. JMP Securities dropped their target price on Mondee from $7.00 to $4.25 and set a “market outperform” rating on the stock in a research report on Tuesday, April 2nd. Finally, Northland Securities dropped their target price on Mondee from $6.50 to $4.50 and set an “outperform” rating on the stock in a research report on Friday, March 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.97.

Mondee Stock Down 4.9 %

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

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

Institutional Investors Weigh In On Mondee

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capstone Investment Advisors LLC purchased a new stake in shares of Mondee in the fourth quarter worth $138,000. Savvy Advisors Inc. bought a new position in Mondee in the fourth quarter valued at $28,000. Bank of New York Mellon Corp increased its stake in Mondee by 20.9% in the third quarter. Bank of New York Mellon Corp now owns 129,917 shares of the company’s stock valued at $464,000 after acquiring an additional 22,438 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Mondee in the third quarter valued at $60,000. Hedge funds and other 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.