Hello Group (NASDAQ:MOMO) Upgraded to “Buy” at Wall Street Zen

Hello Group (NASDAQ:MOMO) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

MOMO has been the subject of several other reports. Benchmark reissued a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. UBS Group set a $10.00 price objective on Hello Group in a research note on Thursday, June 4th. Finally, Weiss Ratings cut Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.05.

Hello Group Trading Down 3.2%

MOMO stock opened at $6.01 on Friday. The firm has a 50 day moving average of $5.86 and a 200-day moving average of $6.21. The firm has a market capitalization of $646.50 million, a P/E ratio of 9.39 and a beta of 0.45. Hello Group has a 12 month low of $5.32 and a 12 month high of $9.11.

Institutional Trading of Hello Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ramsey Quantitative Systems purchased a new position in Hello Group in the second quarter worth $26,000. EverSource Wealth Advisors LLC raised its position in Hello Group by 249.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 3,170 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Hello Group during the second quarter valued at about $41,000. Quarry LP purchased a new stake in Hello Group during the third quarter valued at about $65,000. Finally, Barclays PLC lifted its stake in Hello Group by 696.8% during the fourth quarter. Barclays PLC now owns 10,000 shares of the information services provider’s stock worth $66,000 after purchasing an additional 8,745 shares during the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Hello Group Company Profile

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.