Hello Group (NASDAQ:MOMO) Sets New 1-Year Low – Time to Sell?

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s share price hit a new 52-week low during mid-day trading on Monday. The company traded as low as $4.70 and last traded at $4.7570, with a volume of 1425 shares trading hands. The stock had previously closed at $4.72.

Wall Street Analyst Weigh In

Several research firms have commented on MOMO. Weiss Ratings restated a “sell (d+)” rating on shares of Hello Group in a research note on Monday, August 3rd. Wall Street Zen cut shares of 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 given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hello Group has an average rating of “Hold” and a consensus price target of $9.05.

Hello Group Stock Performance

The firm’s 50-day simple moving average is $5.39 and its 200 day simple moving average is $5.75. The stock has a market capitalization of $513.09 million, a P/E ratio of 4.87 and a beta of 0.38.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Athos Capital Ltd bought a new position in shares of Hello Group during the fourth quarter worth approximately $47,359,000. Assenagon Asset Management S.A. bought a new stake in Hello Group in the 2nd quarter valued at $6,176,000. Public Employees Retirement System of Ohio acquired a new position in Hello Group in the 2nd quarter valued at $1,087,000. Maven Securities LTD bought a new position in Hello Group during the 2nd quarter worth $833,000. Finally, Wellington Management Group LLP increased its position in Hello Group by 92.9% during the 2nd quarter. Wellington Management Group LLP now owns 161,492 shares of the information services provider’s stock worth $937,000 after buying an additional 77,773 shares during the period. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Company Profile

Hello Group Inc, formerly known as Momo Inc, is a China-based mobile social networking and entertainment company. Founded in 2011, the company operates digital platforms that help users discover and interact with people based on location, interests and other social connections.

Its principal products include Momo, a social networking application that offers messaging, content sharing, live video and other interactive features, and Tantan, a dating and relationship-focused platform acquired by the company in 2018.