Hello Group (NASDAQ:MOMO) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Hello Group Inc. (NASDAQ:MOMO)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.12 and traded as low as $6.67. Hello Group shares last traded at $6.67, with a volume of 1,691,670 shares.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. StockNews.com raised Hello Group from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Benchmark reissued a “buy” rating and set a $13.00 price target on shares of Hello Group in a report on Thursday, March 13th. Finally, Citigroup increased their price target on Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hello Group currently has a consensus rating of “Hold” and a consensus price target of $8.25.

Hello Group Trading Down 3.3 %

The business has a fifty day simple moving average of $7.36 and a two-hundred day simple moving average of $7.12. The company has a market cap of $966.48 million, a PE ratio of 6.88, a price-to-earnings-growth ratio of 2.07 and a beta of 0.44.

Hello Group Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, April 11th. This represents a yield of 4.18%.

Institutional Investors Weigh In On Hello Group

Several hedge funds and other institutional investors have recently made changes to their positions in MOMO. SBI Securities Co. Ltd. purchased a new stake in shares of Hello Group in the 4th quarter valued at approximately $35,000. Blue Trust Inc. grew its stake in shares of Hello Group by 62.3% in the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after buying an additional 2,414 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Hello Group in the 4th quarter valued at about $79,000. Kathmere Capital Management LLC increased its stake in Hello Group by 30.1% during the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock worth $113,000 after buying an additional 3,407 shares during the period. Finally, Vident Advisory LLC increased its position in shares of Hello Group by 34.0% during the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock worth $122,000 after acquiring an additional 4,009 shares during the period. Institutional investors and hedge funds 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.