Hello Group (NASDAQ:MOMO) Hits New 1-Year High - What's Next?

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $9.07 and last traded at $8.97, with a volume of 306242 shares traded. The stock had previously closed at $8.94.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Hello Group has a consensus rating of "Hold" and an average price target of $9.00.

Hello Group Price Performance

The company's 50 day moving average is $7.34 and its 200 day moving average is $6.99. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 6.90 and a beta of 0.43.

Institutional Investors Weigh In On Hello Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC boosted its position in shares of Hello Group by 1,590.1% in the fourth quarter. Millennium Management LLC now owns 174,536 shares of the information services provider's stock worth $1,346,000 after acquiring an additional 164,209 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Hello Group in the fourth quarter worth approximately $79,000. BNP Paribas Financial Markets acquired a new position in Hello Group during the fourth quarter valued at approximately $4,535,000. Norges Bank acquired a new position in Hello Group during the fourth quarter valued at approximately $10,765,000. Finally, QRG Capital Management Inc. lifted its position in Hello Group by 14.2% during the first quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider's stock valued at $157,000 after buying an additional 3,098 shares in the last quarter. 50.96% of the stock is currently owned by hedge funds and other 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.