Hello Group (NASDAQ:MOMO) Hits New 52-Week High – Here’s What Happened

Shares of Hello Group Inc. (NASDAQ:MOMO) hit a new 52-week high on Friday . The company traded as high as $8.30 and last traded at $7.97, with a volume of 587400 shares trading hands. The stock had previously closed at $7.83.

Wall Street Analysts Forecast Growth

MOMO has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Bank of America cut shares of Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.25.

Hello Group Trading Up 1.0 %

The company’s 50-day moving average is $7.33 and its 200 day moving average is $7.00. The stock has a market capitalization of $1.15 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 1.89 and a beta of 0.47.

Institutional Investors Weigh In On Hello Group

A number of large investors have recently made changes to their positions in MOMO. QRG Capital Management Inc. lifted its position in Hello Group by 8.4% during the 4th quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock worth $169,000 after acquiring an additional 1,690 shares during the period. Blue Trust Inc. raised its stake in shares of Hello Group by 62.3% in the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock worth $48,000 after purchasing an additional 2,414 shares during the last quarter. Kathmere Capital Management LLC raised its stake in shares of Hello Group by 30.1% in the fourth quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock worth $113,000 after purchasing an additional 3,407 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Hello Group during the fourth quarter worth about $35,000. Finally, Hsbc Holdings PLC purchased a new stake in Hello Group in the fourth quarter valued at approximately $79,000. 50.96% of the stock is owned by hedge funds and other institutional investors.

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.