Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) Sees Significant Increase in Short Interest

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 3,319,840 shares, an increase of 28.2% from the January 15th total of 2,590,513 shares. Currently, 7.2% of the company’s stock are sold short. Based on an average daily volume of 1,074,527 shares, the short-interest ratio is currently 3.1 days. Based on an average daily volume of 1,074,527 shares, the short-interest ratio is currently 3.1 days. Currently, 7.2% of the company’s stock are sold short.

Hedge Funds Weigh In On Hello Group

Several large investors have recently made changes to their positions in MOMO. OMERS ADMINISTRATION Corp grew its position in Hello Group by 13.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,000 shares of the information services provider’s stock valued at $111,000 after buying an additional 2,000 shares during the period. US Bancorp DE boosted its stake in shares of Hello Group by 2.5% during the 3rd quarter. US Bancorp DE now owns 93,233 shares of the information services provider’s stock worth $692,000 after acquiring an additional 2,288 shares in the last quarter. ABN Amro Investment Solutions boosted its stake in shares of Hello Group by 9.6% during the 4th quarter. ABN Amro Investment Solutions now owns 26,300 shares of the information services provider’s stock worth $172,000 after acquiring an additional 2,300 shares in the last quarter. Loomis Sayles & Co. L P grew its position in shares of 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 acquiring an additional 4,113 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Hello Group in the 2nd quarter valued at about $41,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Hello Group Price Performance

NASDAQ:MOMO traded up $0.03 during mid-day trading on Tuesday, hitting $6.51. The company’s stock had a trading volume of 636,423 shares, compared to its average volume of 940,874. The business’s fifty day moving average is $6.69 and its two-hundred day moving average is $7.16. The stock has a market cap of $776.38 million, a price-to-earnings ratio of 7.84 and a beta of 0.34. Hello Group has a 1 year low of $5.12 and a 1 year high of $9.22.

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

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.