Hello Group (NASDAQ:MOMO) Sets New 52-Week High at $7.77

Hello Group Inc. (NASDAQ:MOMO) reached a new 52-week high during trading on Monday . The stock traded as high as $7.77 and last traded at $7.76, with a volume of 300035 shares. The stock had previously closed at $7.41.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Benchmark cut their target price on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. cut shares of Hello Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $13.00 to $6.00 in a report on Monday, June 3rd. Finally, Jefferies Financial Group upped their price objective on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.93.

Hello Group Price Performance

The stock has a market capitalization of $1.11 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53. The business’s 50 day simple moving average is $6.66 and its two-hundred day simple moving average is $6.20. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.17.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $0.25 by $2.13. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Hello Group had a net margin of 12.40% and a return on equity of 12.09%. The firm’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. As a group, sell-side analysts forecast that Hello Group Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hello Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. BRIGHT VALLEY CAPITAL Ltd bought a new position in shares of Hello Group during the 2nd quarter worth approximately $22,553,000. Acadian Asset Management LLC boosted its position in Hello Group by 26.4% in the first quarter. Acadian Asset Management LLC now owns 7,377,789 shares of the information services provider’s stock worth $45,781,000 after purchasing an additional 1,538,632 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Hello Group by 994.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,617,308 shares of the information services provider’s stock valued at $10,043,000 after purchasing an additional 1,469,500 shares during the period. Polunin Capital Partners Ltd purchased a new stake in shares of Hello Group during the 2nd quarter valued at $4,566,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Hello Group by 188.3% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,001,600 shares of the information services provider’s stock worth $6,961,000 after purchasing an additional 654,200 shares during the period. 50.96% of the stock is owned by hedge funds and other 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.