Hello Group (NASDAQ:MOMO) Trading Up 6.8%

Hello Group Inc. (NASDAQ:MOMO) traded up 6.8% on Tuesday . The company traded as high as $6.98 and last traded at $6.94. 274,350 shares changed hands during trading, a decline of 85% from the average session volume of 1,781,681 shares. The stock had previously closed at $6.50.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Benchmark decreased their target price on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Citigroup decreased their target price on Hello Group from $6.40 to $5.70 and set a “neutral” rating on the stock in a research note on Wednesday, May 29th. Finally, JPMorgan Chase & Co. lowered Hello Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $13.00 to $6.00 in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.93.

Hello Group Stock Up 8.2 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.55 and a current ratio of 2.55. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 6.39, a price-to-earnings-growth ratio of 1.93 and a beta of 0.53. The business has a 50-day simple moving average of $6.61 and a 200-day simple moving average of $6.20.

Hello Group (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $2.13. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.67 billion. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. Hello Group’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. On average, equities analysts anticipate that Hello Group Inc. will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hello Group

Several hedge funds and other institutional investors have recently made changes to their positions in MOMO. Trexquant Investment LP raised its position in shares of Hello Group by 177.9% during the 4th quarter. Trexquant Investment LP now owns 286,566 shares of the information services provider’s stock worth $1,992,000 after acquiring an additional 183,430 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Hello Group by 6.2% during the 4th quarter. Allianz Asset Management GmbH now owns 589,372 shares of the information services provider’s stock worth $4,096,000 after acquiring an additional 34,294 shares in the last quarter. Caxton Associates LP raised its position in shares of Hello Group by 59.6% during the 4th quarter. Caxton Associates LP now owns 352,739 shares of the information services provider’s stock worth $2,452,000 after acquiring an additional 131,661 shares in the last quarter. Virtu Financial LLC raised its position in shares of Hello Group by 31.8% during the 4th quarter. Virtu Financial LLC now owns 31,390 shares of the information services provider’s stock worth $218,000 after acquiring an additional 7,581 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Hello Group by 14.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,274,996 shares of the information services provider’s stock worth $29,711,000 after acquiring an additional 555,602 shares in the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Company Profile

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.