Hello Group (NASDAQ:MOMO) Stock Price Down 2.6% – What’s Next?

Hello Group Inc. (NASDAQ:MOMO) shares fell 2.6% during mid-day trading on Thursday . The stock traded as low as $7.45 and last traded at $7.51. 101,823 shares traded hands during trading, a decline of 94% from the average session volume of 1,635,335 shares. The stock had previously closed at $7.71.

Analysts Set New Price Targets

Several brokerages recently commented on MOMO. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Citigroup lifted their price objective on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Bank of America lowered Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Down 2.8 %

The business has a 50-day simple moving average of $7.08 and a 200-day simple moving average of $6.82. The company has a market cap of $1.04 billion, a PE ratio of 7.40, a P/E/G ratio of 2.40 and a beta of 0.48.

Institutional Investors Weigh In On Hello Group

A number of large investors have recently modified their holdings of MOMO. Blue Trust Inc. boosted its stake in Hello Group by 472.1% during the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after buying an additional 3,196 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in Hello Group in the second quarter valued at $68,000. Kathmere Capital Management LLC acquired a new position in Hello Group during the 2nd quarter worth $74,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Hello Group in the 2nd quarter valued at $87,000. Finally, SG Americas Securities LLC purchased a new position in shares of Hello Group in the 3rd quarter valued at about $125,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Hello Group Company Profile

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.