StockNews.com Upgrades Hello Group (NASDAQ:MOMO) to Buy

Hello Group (NASDAQ:MOMO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Separately, Benchmark restated a “buy” rating and issued a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.25.

Hello Group Trading Down 0.4 %

Shares of NASDAQ MOMO opened at $5.48 on Tuesday. The firm has a fifty day simple moving average of $6.71 and a two-hundred day simple moving average of $6.97. Hello Group has a 12 month low of $4.79 and a 12 month high of $8.38. The firm has a market capitalization of $794.05 million, a PE ratio of 5.65, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in shares of Hello Group during the fourth quarter valued at $35,000. Blue Trust Inc. increased its stake in Hello Group by 62.3% during the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 2,414 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Hello Group in the fourth quarter worth about $79,000. Kathmere Capital Management LLC grew its holdings in shares of Hello Group by 30.1% during the fourth quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock valued at $113,000 after buying an additional 3,407 shares during the last quarter. Finally, Vident Advisory LLC increased its position in shares of Hello Group by 34.0% during the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock valued at $122,000 after acquiring an additional 4,009 shares in the last quarter. Institutional investors 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.