Hello Group (NASDAQ:MOMO) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Hello Group (NASDAQ:MOMO) from a buy rating to a hold rating in a research report sent to investors on Sunday.

A number of other research analysts have also issued reports on the stock. Benchmark reissued a “buy” rating on shares of Hello Group in a research note on Thursday, June 4th. UBS Group set a $10.00 price target on shares of 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 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. According to MarketBeat.com, Hello Group presently has a consensus rating of “Hold” and a consensus target price of $9.05.

Hello Group Stock Performance

Hello Group stock opened at $5.88 on Friday. The company has a 50-day simple moving average of $5.83 and a 200-day simple moving average of $6.17. The firm has a market capitalization of $632.48 million, a P/E ratio of 9.19 and a beta of 0.45. Hello Group has a one year low of $5.32 and a one year high of $8.59.

Hedge Funds Weigh In On Hello Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ramsey Quantitative Systems acquired a new stake in shares of Hello Group in the second quarter valued at $26,000. Assenagon Asset Management S.A. acquired a new position in Hello Group during the second quarter worth about $6,176,000. EverSource Wealth Advisors LLC grew its holdings 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 worth $26,000 after acquiring an additional 3,170 shares during the period. Cetera Investment Advisers raised its position in Hello Group by 3.2% in the first quarter. Cetera Investment Advisers now owns 67,726 shares of the information services provider’s stock worth $390,000 after acquiring an additional 2,096 shares in the last quarter. Finally, ABN Amro Investment Solutions lifted its holdings in Hello Group by 45.6% in the 1st quarter. ABN Amro Investment Solutions now owns 38,300 shares of the information services provider’s stock valued at $221,000 after acquiring an additional 12,000 shares during the last quarter. 50.96% of the stock is owned by institutional investors.

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.