Hello Group (NASDAQ:MOMO) Sets New 1-Year High - Still a Buy?

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) hit a new 52-week high during trading on Monday . The company 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 Ratings Changes

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

Hello Group Price Performance

The business's 50 day simple moving average is $7.52 and its 200 day simple moving average is $7.03. The company has a market capitalization of $1.09 billion, a PE ratio of 6.96 and a beta of 0.43.

Institutional Investors Weigh In On Hello Group

A number of institutional investors and hedge funds have recently made changes to their positions in MOMO. Quantbot Technologies LP purchased a new stake in shares of Hello Group in the 4th quarter valued at approximately $148,000. American Century Companies Inc. raised its stake in shares of Hello Group by 4.7% in the 4th quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider's stock valued at $7,036,000 after acquiring an additional 40,620 shares during the period. LPL Financial LLC raised its stake in shares of Hello Group by 813.1% in the 4th quarter. LPL Financial LLC now owns 101,277 shares of the information services provider's stock valued at $781,000 after acquiring an additional 90,186 shares during the period. Norges Bank purchased a new stake in shares of Hello Group in the 4th quarter valued at approximately $10,765,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Hello Group in the 4th quarter valued at approximately $1,789,000. 50.96% of the stock is 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.