Hello Group (NASDAQ:MOMO) Sets New 12-Month High – Here’s Why

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) reached a new 52-week high during trading on Tuesday . The company traded as high as $8.69 and last traded at $8.63, with a volume of 377569 shares trading hands. The stock had previously closed at $8.40.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MOMO shares. Wall Street Zen upgraded shares of Hello Group from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Benchmark reaffirmed a “buy” rating and set a $13.00 price objective on shares of Hello Group in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.00.

Hello Group Trading Down 1.3%

The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 6.55 and a beta of 0.31. The firm’s 50 day simple moving average is $6.64 and its 200-day simple moving average is $6.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. lifted its position in Hello Group by 8.4% in the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock valued at $169,000 after purchasing an additional 1,690 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Hello Group during the 4th quarter worth approximately $35,000. Quantbot Technologies LP acquired a new stake in shares of Hello Group in the 4th quarter valued at approximately $148,000. American Century Companies Inc. boosted its stake in shares of Hello Group by 4.7% in the fourth quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider’s stock valued at $7,036,000 after buying an additional 40,620 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in Hello Group by 813.1% during the fourth quarter. LPL Financial LLC now owns 101,277 shares of the information services provider’s stock worth $781,000 after acquiring an additional 90,186 shares during the period. 50.96% of the stock is currently owned by institutional investors and hedge funds.

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.