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

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $4.51 and last traded at $4.53, with a volume of 686,268 shares traded. The stock had previously closed at $4.65.

Wall Street Analysts Forecast Growth

MOMO has been the topic of several research reports. Wall Street Zen downgraded shares of Hello Group from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Weiss Ratings cut shares of Hello Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 9th. 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.05.

Hello Group Price Performance

The firm has a market cap of $487.29 million, a P/E ratio of 4.62 and a beta of 0.38. The stock’s 50 day moving average is $5.13 and its two-hundred day moving average is $5.66.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings results on Thursday, September 3rd. The information services provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $365.91 million during the quarter, compared to analysts’ expectations of $363.62 million. Hello Group had a net margin of 11.02% and a return on equity of 10.43%. The company’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) earnings per share.

Hedge Funds Weigh In On Hello Group

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

About Hello Group

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.