Hello Group (NASDAQ:MOMO) Lowered to “Hold” Rating by StockNews.com

Hello Group (NASDAQ:MOMO) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Other equities research analysts have also recently issued reports about the stock. Citigroup increased their target price on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Benchmark reiterated a “buy” rating and issued a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.25.

Hello Group Price Performance

Shares of NASDAQ:MOMO opened at $6.27 on Wednesday. The business’s 50 day moving average price is $7.27 and its 200-day moving average price is $7.13. Hello Group has a 1 year low of $4.79 and a 1 year high of $8.38. The firm has a market capitalization of $908.52 million, a PE ratio of 6.46, a P/E/G ratio of 2.07 and a beta of 0.44.

Hedge Funds Weigh In On Hello Group

Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Hello Group during the 4th quarter valued at approximately $35,000. Blue Trust Inc. raised its position in Hello Group by 62.3% in the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 2,414 shares during the period. Hsbc Holdings PLC purchased a new stake in Hello Group in the fourth quarter valued at $79,000. Kathmere Capital Management LLC lifted its stake in shares of Hello Group by 30.1% in the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 3,407 shares during the last quarter. Finally, Vident Advisory LLC grew its holdings in shares of Hello Group by 34.0% during the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock worth $122,000 after purchasing an additional 4,009 shares during the period. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Company Profile

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.