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

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $8.94 and last traded at $8.86, with a volume of 594634 shares. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MOMO shares. Wall Street Zen raised Hello Group from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Benchmark restated a "buy" rating and issued a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.00.

Hello Group Trading Up 5.0%

The stock's 50 day moving average price is $7.28 and its 200 day moving average price is $6.98. The firm has a market cap of $1.08 billion, a PE ratio of 6.87 and a beta of 0.43.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new stake in shares of Hello Group in the first quarter valued at about $56,000. Nomura Holdings Inc. purchased a new position in Hello Group in the 1st quarter worth approximately $63,000. Hsbc Holdings PLC acquired a new stake in Hello Group in the fourth quarter valued at approximately $79,000. Aigen Investment Management LP purchased a new stake in shares of Hello Group during the first quarter valued at approximately $85,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Hello Group during the second quarter worth $85,000. 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.