Hello Group (NASDAQ:MOMO) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Hello Group has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, reflecting a negative outlook from investment analysts.
• The company currently has an average price target of $10.00 with an overall average rating of "Reduce" from major analysts.
• Recent trading performance shows Hello Group's stock price opened at $6.83 on Thursday, with a 52-week range of $5.12 to $9.22.

Hello Group (NASDAQ:MOMO - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

MOMO has been the subject of a number of other research reports. Wall Street Zen lowered shares of Hello Group from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Hello Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $10.00.

Hello Group Stock Performance

Hello Group stock opened at $6.83 on Thursday. The company has a 50 day moving average price of $7.71 and a 200 day moving average price of $7.33. Hello Group has a 52 week low of $5.12 and a 52 week high of $9.22. The firm has a market capitalization of $814.54 million, a price-to-earnings ratio of 7.67 and a beta of 0.23.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MOMO. QRG Capital Management Inc. lifted its holdings 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 worth $157,000 after purchasing an additional 3,098 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Hello Group by 352.2% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 111,601 shares of the information services provider's stock worth $704,000 after buying an additional 86,923 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Hello Group by 10.7% in the first quarter. Allianz Asset Management GmbH now owns 292,362 shares of the information services provider's stock worth $1,845,000 after buying an additional 28,278 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Hello Group during the 1st quarter worth $159,000. Finally, XTX Topco Ltd grew its stake in Hello Group by 17.5% in the 1st quarter. XTX Topco Ltd now owns 91,504 shares of the information services provider's stock valued at $577,000 after buying an additional 13,603 shares during the last quarter. 50.96% of the stock is owned by institutional investors.

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.

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