Hello Group (NASDAQ:MOMO) Shares Gap Up – What’s Next?

Hello Group Inc. (NASDAQ:MOMO)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $6.32, but opened at $6.58. Hello Group shares last traded at $6.64, with a volume of 29,100 shares trading hands.

Analysts Set New Price Targets

MOMO has been the topic of a number of recent research reports. Benchmark dropped their price objective on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Bank of America downgraded shares of Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Jefferies Financial Group upped their target price on shares of Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.93.

Hello Group Trading Up 1.4 %

The stock has a market cap of $975.17 million, a PE ratio of 6.73, a PEG ratio of 2.03 and a beta of 0.54. 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 fifty day simple moving average of $7.01 and a two-hundred day simple moving average of $6.53.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Hello Group by 472.1% during the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 3,196 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 $68,000. Kathmere Capital Management LLC bought a new position in shares of Hello Group during the 2nd quarter valued at $74,000. Vanguard Personalized Indexing Management LLC purchased a new position in Hello Group in the 2nd quarter worth $87,000. Finally, SG Americas Securities LLC bought a new stake in Hello Group in the third quarter worth $125,000. Institutional investors 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.