Hello Group (NASDAQ:MOMO) Sees Large Volume Increase – Should You Buy?

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) saw strong trading volume on Tuesday. Approximately 1,248,917 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 766,432 shares. The stock last traded at $4.7150 and had previously closed at $4.64.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MOMO shares. Wall Street Zen cut shares of Hello Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Hello Group in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.05.

Hello Group Trading Down 0.2%

The business’s 50-day simple moving average is $5.37 and its two-hundred day simple moving average is $5.74. The company has a market capitalization of $512.03 million, a PE ratio of 4.86 and a beta of 0.38.

Hello Group (NASDAQ:MOMO) last released its quarterly earnings results on Thursday, September 3rd. The information services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $365.91 million for 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%.The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.58) earnings per share.

Institutional Trading of Hello Group

Hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its holdings in shares of Hello Group by 3.2% in the first quarter. Cetera Investment Advisers now owns 67,726 shares of the information services provider’s stock valued at $390,000 after buying an additional 2,096 shares during the period. QRG Capital Management Inc. lifted its holdings in Hello Group by 12.1% in the 1st quarter. QRG Capital Management Inc. now owns 21,964 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 2,372 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Hello Group by 249.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 3,170 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in shares of Hello Group in the 2nd quarter worth approximately $26,000. Finally, Tidal Investments LLC bought a new stake in shares of Hello Group in the 2nd quarter worth approximately $59,000. 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.