Hello Group (NASDAQ:MOMO) Trading Up 3.4% – What’s Next?

Hello Group Inc. (NASDAQ:MOMO)’s share price traded up 3.4% during trading on Tuesday . The stock traded as high as $7.55 and last traded at $7.54. 148,512 shares traded hands during trading, a decline of 91% from the average session volume of 1,627,308 shares. The stock had previously closed at $7.29.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MOMO. Citigroup upped their price target on Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Bank of America lowered shares of Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Finally, Benchmark dropped their price objective on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $8.25.

Hello Group Stock Performance

The stock has a market cap of $1.12 billion, a P/E ratio of 7.95, a PEG ratio of 2.40 and a beta of 0.51. The firm’s 50-day moving average is $7.06 and its two-hundred day moving average is $6.81.

Institutional Trading of Hello Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Beijing Investment Ltd bought a new position in Hello Group in the third quarter valued at approximately $30,773,000. Dimensional Fund Advisors LP grew its stake in shares of Hello Group by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock worth $22,736,000 after purchasing an additional 633,746 shares during the period. BRIGHT VALLEY CAPITAL Ltd bought a new stake in Hello Group in the second quarter valued at about $22,553,000. American Century Companies Inc. lifted its stake in Hello Group by 22.6% in the second quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock valued at $4,417,000 after buying an additional 133,113 shares during the period. Finally, Caxton Associates LP bought a new position in Hello Group during the second quarter worth about $2,628,000. 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.