Hello Group Inc. (NASDAQ:MOMO – Get Rating)’s stock price traded up 4.1% during trading on Friday . The stock traded as high as $10.68 and last traded at $10.51. 10,732 shares were traded during mid-day trading, a decline of 100% from the average session volume of 2,290,462 shares. The stock had previously closed at $10.10.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Citigroup boosted their target price on shares of Hello Group from $5.80 to $7.00 in a research note on Friday, December 9th. StockNews.com upgraded shares of Hello Group from a “hold” rating to a “buy” rating in a research note on Monday, December 12th. Finally, Morgan Stanley upgraded shares of Hello Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $5.00 to $9.00 in a research note on Friday, December 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.75.
Hello Group Trading Up 5.4 %
The stock’s 50 day moving average price is $7.31 and its 200 day moving average price is $5.69. The firm has a market cap of $1.68 billion, a PE ratio of -4.13 and a beta of 0.87.
Institutional Trading of Hello Group
Hedge funds have recently bought and sold shares of the company. North Star Investment Management Corp. raised its position in shares of Hello Group by 42.4% during the 4th quarter. North Star Investment Management Corp. now owns 12,100 shares of the information services provider’s stock worth $109,000 after buying an additional 3,600 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Hello Group by 3.1% in the third quarter. Bank of New York Mellon Corp now owns 121,829 shares of the information services provider’s stock worth $563,000 after acquiring an additional 3,632 shares in the last quarter. BNP Paribas Arbitrage SNC purchased a new position in shares of Hello Group in the third quarter worth approximately $2,488,000. Mercer Global Advisors Inc. ADV increased its position in shares of Hello Group by 18.0% in the third quarter. Mercer Global Advisors Inc. ADV now owns 35,132 shares of the information services provider’s stock worth $162,000 after acquiring an additional 5,370 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Hello Group by 17.6% during the third quarter. Two Sigma Advisers LP now owns 202,900 shares of the information services provider’s stock valued at $937,000 after purchasing an additional 30,400 shares in the last quarter. 60.15% of the stock is currently owned by institutional investors.
Hello Group Company Profile
Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates Momo platform that includes its Momo mobile application, as well as various related properties, features, functionalities, tools, and services. The company's Momo mobile application connects people and facilitates interactions based on location and interests; and various recreational activities, including live talent shows, short videos, and social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke, and user participated reality shows.
- Get a free copy of the StockNews.com research report on Hello Group (MOMO)
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