Hello Group (NASDAQ:MOMO) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.48 and traded as low as $6.92. Hello Group shares last traded at $6.95, with a volume of 1,093,464 shares traded.

Analysts Set New Price Targets

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

Hello Group Stock Up 0.6%

The company’s fifty day simple moving average is $6.80 and its 200 day simple moving average is $7.46. The firm has a market capitalization of $833.63 million, a PE ratio of 8.42 and a beta of 0.32.

Hello Group (NASDAQ:MOMO) last announced its earnings results on Wednesday, December 10th. The information services provider reported $0.33 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $372.16 million during the quarter, compared to analyst estimates of $362.80 million. During the same quarter in the prior year, the company earned $2.70 EPS. The business’s revenue was down .9% compared to the same quarter last year. Equities research analysts forecast that Hello Group Inc. Sponsored ADR will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Hello Group

Hedge funds have recently bought and sold shares of the business. US Bancorp DE increased its stake in shares of Hello Group by 2.5% during the third quarter. US Bancorp DE now owns 93,233 shares of the information services provider’s stock valued at $692,000 after purchasing an additional 2,288 shares in the last quarter. Loomis Sayles & Co. L P increased its position in Hello Group by 322.1% during the 2nd quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider’s stock valued at $45,000 after buying an additional 4,113 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Hello Group during the second quarter valued at $41,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Hello Group by 45.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,375 shares of the information services provider’s stock worth $189,000 after acquiring an additional 7,021 shares in the last quarter. Finally, Quarry LP bought a new stake in Hello Group in the third quarter worth $65,000. 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.