Hello Group (NASDAQ:MOMO) Shares Gap Up to $6.95

Shares of Hello Group Inc. (NASDAQ:MOMO) gapped up before the market opened on Thursday . The stock had previously closed at $6.95, but opened at $7.50. Hello Group shares last traded at $7.13, with a volume of 755,114 shares trading hands.

Analysts Set New Price Targets

A number of analysts have commented on MOMO shares. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Citigroup decreased their price target on Hello Group from $6.40 to $5.70 and set a “neutral” rating for the company in a report on Wednesday, May 29th. Jefferies Financial Group raised their price objective on Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Benchmark cut their price objective on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. downgraded shares of Hello Group from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $6.00 in a report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Hello Group presently has an average rating of “Hold” and a consensus target price of $7.93.

Hello Group Stock Performance

The firm has a market cap of $1.01 billion, a PE ratio of 6.32, a PEG ratio of 1.99 and a beta of 0.53. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $6.63 and a two-hundred day simple moving average of $6.21.

Hello Group (NASDAQ:MOMO) last issued its quarterly earnings results 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 company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm earned $0.39 EPS. The firm’s quarterly revenue was down 14.2% on a year-over-year basis. As a group, equities research analysts forecast that Hello Group Inc. will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Hello Group

Several large investors have recently modified their holdings of MOMO. BRIGHT VALLEY CAPITAL Ltd purchased a new position in Hello Group in the second quarter valued at approximately $22,553,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Hello Group during the 2nd quarter valued at $68,000. Kathmere Capital Management LLC bought a new position in shares of Hello Group during the 2nd quarter worth $74,000. Caxton Associates LP purchased a new stake in Hello Group in the 2nd quarter worth about $2,628,000. Finally, XTX Topco Ltd purchased a new stake in Hello Group in the 2nd quarter worth about $165,000. Hedge funds and other 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.