Hello Group (NASDAQ:MOMO) Trading Up 3.4% – Should You Buy?

Hello Group Inc. (NASDAQ:MOMO) shares shot up 3.4% during trading on Tuesday . The stock traded as high as $7.55 and last traded at $7.54. 148,512 shares changed 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.

Analyst Ratings Changes

Several research analysts recently weighed in on MOMO shares. Jefferies Financial Group boosted their target price on Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Citigroup upped their price objective on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Benchmark dropped their target price on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Bank of America cut shares of Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.25.

Hello Group Stock Performance

The firm has a market cap of $1.11 billion, a PE ratio of 7.89, a P/E/G ratio of 2.40 and a beta of 0.51. The firm’s 50-day moving average price is $7.03 and its two-hundred day moving average price is $6.79.

Institutional Trading of Hello Group

Hedge funds have recently added to or reduced their stakes in the business. First Beijing Investment Ltd bought a new stake in Hello Group in the 3rd quarter valued at $30,773,000. BRIGHT VALLEY CAPITAL Ltd bought a new position in shares of Hello Group in the 2nd quarter worth $22,553,000. Dimensional Fund Advisors LP boosted its stake in Hello Group by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock worth $22,736,000 after acquiring an additional 633,746 shares during the last quarter. Caxton Associates LP acquired a new position in shares of Hello Group in the 2nd quarter valued at $2,628,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Hello Group in the third quarter worth about $1,013,000. Institutional investors own 50.96% of the company’s stock.

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.