Traders Purchase High Volume of Call Options on Hello Group (NASDAQ:MOMO)

Hello Group Inc. (NASDAQ:MOMO) was the recipient of unusually large options trading on Thursday. Stock investors purchased 7,730 call options on the stock. This is an increase of 960% compared to the average daily volume of 729 call options.

Wall Street Analyst Weigh In

Several analysts have weighed in on MOMO shares. Benchmark lowered their target price on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Citigroup lifted their target price on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Jefferies Financial Group increased their price target on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Bank of America downgraded Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Hello Group currently has a consensus rating of “Hold” and a consensus price target of $8.25.

Hello Group Stock Performance

Shares of MOMO opened at $7.49 on Friday. Hello Group has a 1 year low of $4.79 and a 1 year high of $8.19. The company’s 50 day simple moving average is $7.01 and its 200 day simple moving average is $6.75. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 2.40 and a beta of 0.51.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in Hello Group by 472.1% in the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 3,196 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Hello Group during the 2nd quarter valued at about $68,000. Kathmere Capital Management LLC purchased a new position in shares of Hello Group during the 2nd quarter worth about $74,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Hello Group in the second quarter worth approximately $87,000. Finally, SG Americas Securities LLC purchased a new stake in Hello Group in the third quarter valued at approximately $125,000. 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.