Hello Group (NASDAQ:MOMO) Sets New 12-Month Low – Here’s What Happened

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) hit a new 52-week low during trading on Thursday . The company traded as low as $5.32 and last traded at $5.4050, with a volume of 146567 shares trading hands. The stock had previously closed at $5.51.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MOMO. Weiss Ratings cut shares of Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Benchmark reiterated a “buy” rating on shares of Hello Group in a research report on Thursday, June 4th. Finally, UBS Group set a $10.00 price objective on shares of Hello Group in a research note on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.05.

Hello Group Stock Up 3.7%

The firm has a market cap of $602.39 million, a price-to-earnings ratio of 8.75 and a beta of 0.46. The business has a 50 day moving average of $5.94 and a 200 day moving average of $6.27.

Hedge Funds Weigh In On Hello Group

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in Hello Group by 23.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,194,428 shares of the information services provider’s stock valued at $7,824,000 after acquiring an additional 226,637 shares during the last quarter. Causeway Capital Management LLC grew its position in shares of Hello Group by 19.1% in the third quarter. Causeway Capital Management LLC now owns 2,794,347 shares of the information services provider’s stock valued at $20,734,000 after purchasing an additional 448,123 shares during the period. JPMorgan Chase & Co. increased its stake in Hello Group by 142.9% in the third quarter. JPMorgan Chase & Co. now owns 767,326 shares of the information services provider’s stock valued at $5,694,000 after purchasing an additional 451,408 shares during the last quarter. Athos Capital Ltd purchased a new position in Hello Group during the fourth quarter worth about $47,359,000. Finally, LSV Asset Management lifted its position in Hello Group by 21.3% during the fourth quarter. LSV Asset Management now owns 3,565,971 shares of the information services provider’s stock worth $23,357,000 after buying an additional 626,152 shares during the period. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Hello Group Company Profile

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.