Hello Group (NASDAQ:MOMO) Stock Price Down 5.4% – Time to Sell?

Shares of Hello Group Inc. (NASDAQ:MOMO) dropped 5.4% during mid-day trading on Thursday . The company traded as low as $6.49 and last traded at $6.50. Approximately 264,623 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,791,657 shares. The stock had previously closed at $6.87.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MOMO. StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Benchmark cut their price objective on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, Jefferies Financial Group raised their target price on Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.93.

Hello Group Trading Up 4.0 %

The firm’s 50 day simple moving average is $6.86 and its two-hundred day simple moving average is $6.33. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.17. The stock has a market cap of $980.97 million, a P/E ratio of 6.15, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $2.13. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the firm earned $0.39 EPS. The business’s quarterly revenue was down 14.2% on a year-over-year basis. As a group, equities research analysts predict that Hello Group Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hello Group

Several institutional investors have recently bought and sold shares of MOMO. Blue Trust Inc. raised its holdings in Hello Group by 472.1% during the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after purchasing an additional 3,196 shares in the last quarter. Platinum Investment Management Ltd. grew its stake in shares of Hello Group by 110.0% in the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock worth $56,000 after purchasing an additional 4,700 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of Hello Group by 31.8% in the 4th quarter. Virtu Financial LLC now owns 31,390 shares of the information services provider’s stock worth $218,000 after purchasing an additional 7,581 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Hello Group by 19.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 67,812 shares of the information services provider’s stock valued at $415,000 after purchasing an additional 11,013 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Hello Group during the second quarter worth approximately $68,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

About Hello Group

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.