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

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) shares reached a new 52-week low on Thursday . The company traded as low as $5.29 and last traded at $5.3150, with a volume of 464867 shares trading hands. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

MOMO has been the subject of a number of research analyst reports. UBS Group set a $10.00 price target on shares of Hello Group in a research note on Thursday, June 4th. Wall Street Zen lowered shares of Hello Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Benchmark reissued a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Hello Group in a research 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.05.

Hello Group Stock Down 3.2%

The company has a market cap of $571.71 million, a P/E ratio of 8.30 and a beta of 0.45. The company has a 50 day moving average price of $5.85 and a 200-day moving average price of $5.98.

Institutional Trading of Hello Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in Hello Group by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock worth $51,284,000 after acquiring an additional 546,048 shares during the period. Geode Capital Management LLC grew its stake in shares of Hello Group by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider’s stock worth $2,362,000 after purchasing an additional 10,944 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Hello Group by 111.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 315,918 shares of the information services provider’s stock worth $2,666,000 after purchasing an additional 166,227 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Hello Group by 31.7% in the 2nd quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider’s stock worth $336,000 after purchasing an additional 9,597 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Hello Group by 231.1% in the 2nd quarter. Hsbc Holdings PLC now owns 38,864 shares of the information services provider’s stock worth $329,000 after purchasing an additional 27,125 shares in the last quarter. 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.