Hello Group (NASDAQ:MOMO) Trading Down 3.5% – What’s Next?

Hello Group Inc. (NASDAQ:MOMO) fell 3.5% during mid-day trading on Friday . The stock traded as low as $6.32 and last traded at $6.33. 472,046 shares were traded during mid-day trading, a decline of 72% from the average session volume of 1,681,096 shares. The stock had previously closed at $6.56.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MOMO. Jefferies Financial Group boosted their price target on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Benchmark reduced their target price on Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Bank of America cut Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered Hello Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.93.

Hello Group Trading Down 3.0 %

The stock has a fifty day moving average of $6.99 and a two-hundred day moving average of $6.52. The company has a market capitalization of $921.56 million, a PE ratio of 6.36, a PEG ratio of 2.01 and a beta of 0.54. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.17.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings data 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 net margin of 12.40% and a return on equity of 12.09%. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the business posted $0.39 EPS. The business’s quarterly revenue was down 14.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Hello Group Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Hello Group

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in shares of Hello Group by 472.1% in the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after buying an additional 3,196 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of Hello Group during the second quarter valued at about $68,000. Kathmere Capital Management LLC bought a new position in shares of Hello Group during the second quarter valued at about $74,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Hello Group during the second quarter worth about $87,000. Finally, SG Americas Securities LLC bought a new stake in shares of Hello Group in the third quarter worth about $125,000. 50.96% of the stock is owned by institutional investors.

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.