Hello Group (NASDAQ:MOMO) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.05 and traded as low as $6.14. Hello Group shares last traded at $6.25, with a volume of 1,315,635 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MOMO. Weiss Ratings reissued a “hold (c)” rating on shares of Hello Group in a research report on Monday, December 22nd. Jefferies Financial Group set a $8.10 price objective on Hello Group in a report on Wednesday, December 10th. Finally, Zacks Research upgraded shares of Hello Group from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Hello Group Trading Down 3.8%

The stock has a 50 day moving average of $6.67 and a 200-day moving average of $7.05. The company has a market capitalization of $745.38 million, a P/E ratio of 7.53 and a beta of 0.35.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings data on Wednesday, December 10th. The information services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Hello Group had a return on equity of 10.07% and a net margin of 5.96%.The business had revenue of $372.16 million for the quarter, compared to the consensus estimate of $362.80 million. During the same period in the previous year, the business earned $2.70 earnings per share. The business’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts expect that Hello Group Inc. Sponsored ADR will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Hello Group

Several institutional investors have recently made changes to their positions in MOMO. XTX Topco Ltd increased its holdings in shares of Hello Group by 243.2% in the 4th quarter. XTX Topco Ltd now owns 288,913 shares of the information services provider’s stock valued at $1,892,000 after acquiring an additional 204,719 shares during the period. Verdad Advisers LP purchased a new position in Hello Group in the fourth quarter valued at about $715,000. Numerai GP LLC bought a new position in Hello Group in the fourth quarter worth about $720,000. Engineers Gate Manager LP bought a new position in Hello Group in the fourth quarter worth about $179,000. Finally, Capitolis Liquid Global Markets LLC purchased a new stake in shares of Hello Group during the fourth quarter valued at about $3,128,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

About Hello Group

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.