Hello Group (NASDAQ:MOMO) Price Target Raised to $7.00 at Jefferies Financial Group

Hello Group (NASDAQ:MOMO) had its price target boosted by Jefferies Financial Group from $6.50 to $7.00 in a report issued on Tuesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the information services provider’s stock.

Several other analysts have also commented on MOMO. Morgan Stanley lowered Hello Group from an equal weight rating to an underweight rating in a report on Wednesday, May 15th. Benchmark cut their target price on shares of Hello Group from $16.00 to $15.00 and set a buy rating for the company in a report on Wednesday, May 29th. Citigroup lowered their price target on shares of Hello Group from $6.40 to $5.70 and set a neutral rating on the stock in a report on Wednesday, May 29th. JPMorgan Chase & Co. cut shares of Hello Group from an overweight rating to a neutral rating and cut their price objective for the company from $13.00 to $6.00 in a report on Monday, June 3rd. Finally, StockNews.com lowered shares of Hello Group from a hold rating to a sell rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Hello Group currently has a consensus rating of Hold and an average target price of $8.43.

Hello Group Stock Down 3.8 %

MOMO stock opened at $6.39 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.36 and a quick ratio of 2.36. The firm’s fifty day simple moving average is $6.59 and its 200-day simple moving average is $6.23. Hello Group has a 12 month low of $4.79 and a 12 month high of $8.45. The company has a market capitalization of $925.90 million, a P/E ratio of 5.81, a price-to-earnings-growth ratio of 1.98 and a beta of 0.51.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Platinum Investment Management Ltd. boosted its stake in Hello Group by 110.0% during 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. B. Riley Wealth Advisors Inc. acquired a new stake in Hello Group in the 2nd quarter valued at about $68,000. Kathmere Capital Management LLC purchased a new position in Hello Group in the 2nd quarter worth approximately $74,000. D Orazio & Associates Inc. purchased a new position in Hello Group in the 4th quarter worth approximately $79,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Hello Group during the 2nd quarter worth approximately $87,000. 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.