Hello Group (NASDAQ:MOMO) Stock Price Crosses Below 200 Day Moving Average of $8.62

Hello Group Inc. (NASDAQ:MOMO)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.62 and traded as low as $6.90. Hello Group shares last traded at $6.96, with a volume of 474,614 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on MOMO. StockNews.com began coverage on Hello Group in a research report on Thursday, October 5th. They set a “buy” rating for the company. Benchmark restated a “buy” rating and set a $22.00 price target on shares of Hello Group in a research note on Friday, September 1st. BOCOM International lowered Hello Group from a “buy” rating to a “neutral” rating in a research note on Friday, September 1st. Finally, TheStreet raised Hello Group from a “c” rating to a “b-” rating in a report on Thursday, August 31st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Hello Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.30.

Hello Group Stock Up 0.3 %

The stock has a market capitalization of $1.32 billion, a PE ratio of 5.44 and a beta of 0.93. The company has a 50-day moving average of $7.14 and a 200 day moving average of $8.62.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings results on Thursday, August 31st. The information services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. Hello Group had a return on equity of 16.70% and a net margin of 14.53%. The business had revenue of $432.71 million for the quarter, compared to analyst estimates of $423.77 million. As a group, equities analysts predict that Hello Group Inc. will post 1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Hello Group

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC lifted its stake in Hello Group by 276.0% during the 2nd quarter. Acadian Asset Management LLC now owns 5,640,029 shares of the information services provider’s stock worth $54,165,000 after acquiring an additional 4,140,163 shares in the last quarter. LSV Asset Management lifted its stake in Hello Group by 19.9% during the 2nd quarter. LSV Asset Management now owns 920,467 shares of the information services provider’s stock worth $8,846,000 after acquiring an additional 152,520 shares in the last quarter. Polunin Capital Partners Ltd lifted its stake in Hello Group by 2.9% during the 2nd quarter. Polunin Capital Partners Ltd now owns 750,495 shares of the information services provider’s stock worth $7,212,000 after acquiring an additional 21,300 shares in the last quarter. Jacob Asset Management of New York LLC lifted its stake in Hello Group by 20.5% during the 1st quarter. Jacob Asset Management of New York LLC now owns 123,320 shares of the information services provider’s stock worth $1,122,000 after acquiring an additional 21,000 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Hello Group during the 2nd quarter worth about $73,000. Institutional investors and hedge funds own 53.94% 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. 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.