Hello Group (NASDAQ:MOMO) Hits New 12-Month High at $7.77

Shares of Hello Group Inc. (NASDAQ:MOMO) reached a new 52-week high on Monday . The stock traded as high as $7.77 and last traded at $7.76, with a volume of 300035 shares. The stock had previously closed at $7.41.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MOMO shares. StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. cut shares of Hello Group from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $13.00 to $6.00 in a research note on Monday, June 3rd. Jefferies Financial Group lifted their price objective on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Benchmark dropped their target price on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Hello Group currently has an average rating of “Hold” and a consensus target price of $7.93.

Hello Group Stock Up 3.1 %

The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.11 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53. The stock’s fifty day moving average is $6.66 and its two-hundred day moving average is $6.20.

Hello Group (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $2.13. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the business posted $0.39 earnings per share. The firm’s revenue was down 14.2% compared to the same quarter last year. As a group, research analysts anticipate that Hello Group Inc. will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On Hello Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MOMO. Platinum Investment Management Ltd. lifted its holdings in shares of Hello Group by 110.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock worth $56,000 after acquiring an additional 4,700 shares during the last quarter. Virtu Financial LLC boosted its holdings in shares of Hello Group by 31.8% in the 4th quarter. Virtu Financial LLC now owns 31,390 shares of the information services provider’s stock worth $218,000 after purchasing an additional 7,581 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Hello Group by 19.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 67,812 shares of the information services provider’s stock valued at $415,000 after purchasing an additional 11,013 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Hello Group during the 2nd quarter valued at about $68,000. Finally, Kathmere Capital Management LLC purchased a new position in shares of Hello Group during the 2nd quarter valued at about $74,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

About Hello Group

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.