Hello Group (NASDAQ:MOMO) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $5.83 and traded as low as $4.92. Hello Group shares last traded at $5.01, with a volume of 681,980 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MOMO. Benchmark restated a “buy” rating on shares of Hello Group in a research report on Thursday, June 4th. UBS Group set a $10.00 price objective on shares of Hello Group in a research note on Thursday, June 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Hello Group in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered Hello Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.05.

Hello Group Stock Performance

The business has a 50-day moving average of $5.55 and a 200 day moving average of $5.82. The stock has a market cap of $536.77 million, a PE ratio of 5.09 and a beta of 0.45.

Hello Group (NASDAQ:MOMO) last released its earnings results on Thursday, September 3rd. The information services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $365.91 million for the quarter, compared to analyst estimates of $363.62 million. Hello Group had a net margin of 11.02% and a return on equity of 10.43%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.58) EPS.

Institutional Trading of Hello Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC purchased a new position in shares of Hello Group during the 2nd quarter worth $59,000. WINTON GROUP Ltd acquired a new position in Hello Group in the second quarter valued at $116,000. Maven Securities LTD purchased a new position in Hello Group during the second quarter worth about $833,000. NewEdge Advisors LLC lifted its position in Hello Group by 2,241,800.0% during the second quarter. NewEdge Advisors LLC now owns 22,419 shares of the information services provider’s stock worth $130,000 after buying an additional 22,418 shares during the period. Finally, BTG Pactual Asset Management US LLC boosted its stake in Hello Group by 376.1% in the 2nd quarter. BTG Pactual Asset Management US LLC now owns 70,163 shares of the information services provider’s stock worth $407,000 after buying an additional 55,427 shares during the last quarter. 50.96% of the stock is owned by hedge funds and other institutional investors.

Hello Group Company Profile

Hello Group Inc, formerly known as Momo Inc, is a Chinese social networking and entertainment company. Founded in 2011, the company operates mobile applications that help users discover, connect and interact with one another through messaging, interest-based communities, live streaming and other digital services.

Its flagship Momo platform provides social networking features, including user profiles, messaging, livestreaming, short-form video and virtual gifting. Hello Group also operates Tantan, a dating and social discovery application acquired in 2018.