Hello Group (NASDAQ:MOMO) Hits New 1-Year Low – What’s Next?

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $5.32 and last traded at $5.4050, with a volume of 146567 shares changing hands. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

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

Hello Group Stock Down 2.3%

The company has a market cap of $579.26 million, a P/E ratio of 8.41 and a beta of 0.46. The company has a fifty day moving average of $5.97 and a 200 day moving average of $6.29.

Institutional Investors Weigh In On Hello Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of Hello Group by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock worth $51,284,000 after buying an additional 546,048 shares during the last quarter. Geode Capital Management LLC increased its holdings in Hello Group by 4.1% during the second quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider’s stock valued at $2,362,000 after buying an additional 10,944 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Hello Group by 111.0% during the second quarter. JPMorgan Chase & Co. now owns 315,918 shares of the information services provider’s stock valued at $2,666,000 after buying an additional 166,227 shares during the last quarter. Legal & General Group Plc raised its position in Hello Group by 31.7% in the second quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider’s stock worth $336,000 after acquiring an additional 9,597 shares during the period. Finally, Hsbc Holdings PLC raised its position in Hello Group by 231.1% in the second quarter. Hsbc Holdings PLC now owns 38,864 shares of the information services provider’s stock worth $329,000 after acquiring an additional 27,125 shares during the period. 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.