Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) Short Interest Down 23.4% in August

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) was the target of a significant drop in short interest in August. As of August 15th, there was short interest totaling 2,810,000 shares, a drop of 23.4% from the July 31st total of 3,670,000 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 1,160,000 shares, the short-interest ratio is presently 2.4 days. Based on an average daily volume of 1,160,000 shares, the short-interest ratio is presently 2.4 days. Currently, 2.3% of the shares of the stock are sold short.

Institutional Trading of Hello Group

A number of institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers lifted its position in Hello Group by 3.6% in the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider's stock valued at $500,000 after acquiring an additional 2,280 shares in the last quarter. US Bancorp DE lifted its position in Hello Group by 3.9% in the 1st quarter. US Bancorp DE now owns 78,397 shares of the information services provider's stock valued at $495,000 after acquiring an additional 2,978 shares in the last quarter. QRG Capital Management Inc. lifted its position in Hello Group by 14.2% in the 1st quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider's stock valued at $157,000 after acquiring an additional 3,098 shares in the last quarter. Vident Advisory LLC lifted its position in Hello Group by 34.0% in the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock valued at $122,000 after acquiring an additional 4,009 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in Hello Group by 322.1% in the 2nd quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider's stock valued at $45,000 after acquiring an additional 4,113 shares in the last quarter. Institutional investors and hedge funds own 50.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Hello Group from a "buy" rating to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $10.00.

Hello Group Stock Performance

MOMO traded down $0.05 during trading on Friday, reaching $7.48. 1,068,850 shares of the company's stock were exchanged, compared to its average volume of 926,063. The company's fifty day moving average price is $8.32 and its 200-day moving average price is $7.27. Hello Group has a fifty-two week low of $5.12 and a fifty-two week high of $9.22. The firm has a market capitalization of $901.27 million, a PE ratio of 8.40 and a beta of 0.38.

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.