Hello Group (NASDAQ:MOMO) Reaches New 12-Month High - Time to Buy?

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report)'s share price hit 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 traded. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

MOMO has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Benchmark reissued a "buy" rating and issued a $13.00 price target on shares of Hello Group in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $9.00.

Hello Group Stock Performance

The stock's 50-day moving average price is $7.11 and its two-hundred day moving average price is $6.95. The stock has a market capitalization of $1.06 billion, a PE ratio of 6.77 and a beta of 0.43.

Hedge Funds Weigh In On Hello Group

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in shares of Hello Group in the fourth quarter worth approximately $35,000. Summit Securities Group LLC bought a new position in Hello Group in the 1st quarter valued at approximately $56,000. Nomura Holdings Inc. bought a new position in Hello Group in the 1st quarter valued at approximately $63,000. Hsbc Holdings PLC purchased a new stake in Hello Group during the 4th quarter valued at $79,000. Finally, Aigen Investment Management LP bought a new stake in shares of Hello Group in the 1st quarter worth $85,000. Hedge funds and other institutional investors own 50.96% of the company's stock.

About Hello Group

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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