Hello Group (NASDAQ:MOMO) Stock Price Breaks Below 200-Day Moving Average – What’s Next?

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $5.70 and traded as low as $4.71. Hello Group shares last traded at $4.71, with a volume of 422,964 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings downgraded Hello Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 9th. Wall Street Zen cut shares of Hello Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.05.

Hello Group Price Performance

The business’s 50-day moving average price is $5.22 and its two-hundred day moving average price is $5.69. The firm has a market cap of $504.48 million, a price-to-earnings ratio of 4.79 and a beta of 0.38.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings data on Thursday, September 3rd. The information services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $365.91 million during the quarter, compared to the consensus estimate of $363.62 million. Hello Group had a net margin of 11.02% and a return on equity of 10.43%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.58) EPS.

Institutional Trading of Hello Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Hello Group by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,408,461 shares of the information services provider’s stock worth $13,868,000 after purchasing an additional 37,306 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Hello Group during the 2nd quarter valued at $6,176,000. Public Employees Retirement System of Ohio bought a new position in shares of Hello Group in the 2nd quarter valued at approximately $1,087,000. Wellington Management Group LLP boosted its holdings in shares of Hello Group by 92.9% during the 2nd quarter. Wellington Management Group LLP now owns 161,492 shares of the information services provider’s stock worth $937,000 after buying an additional 77,773 shares during the period. Finally, Maven Securities LTD acquired a new position in shares of Hello Group during the 2nd quarter worth about $833,000. Institutional investors own 50.96% of the company’s stock.

About Hello Group

Hello Group Inc, formerly known as Momo Inc, is a China-based mobile social networking and entertainment company. Founded in 2011, the company operates digital platforms that help users discover and interact with people based on location, interests and other social connections.

Its principal products include Momo, a social networking application that offers messaging, content sharing, live video and other interactive features, and Tantan, a dating and relationship-focused platform acquired by the company in 2018.