Hello Group (NASDAQ:MOMO) Sees Unusually-High Trading Volume - Time to Buy?

Shares of Hello Group Inc. (NASDAQ:MOMO - Get Free Report) saw strong trading volume on Monday . 943,940 shares changed hands during mid-day trading, a decline of 23% from the previous session's volume of 1,220,542 shares.The stock last traded at $8.05 and had previously closed at $7.56.

Wall Street Analyst Weigh In

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

Hello Group Price Performance

The company has a market cap of $1.00 billion, a P/E ratio of 8.58, a P/E/G ratio of 2.07 and a beta of 0.31. The company's 50-day moving average is $5.99 and its two-hundred day moving average is $6.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. purchased a new stake in Hello Group during the 4th quarter valued at $158,000. QRG Capital Management Inc. increased its position in Hello Group by 8.4% during the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider's stock valued at $169,000 after acquiring an additional 1,690 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Hello Group in the fourth quarter valued at about $35,000. Quantbot Technologies LP purchased a new position in Hello Group in the fourth quarter worth about $148,000. Finally, American Century Companies Inc. grew its stake in shares of Hello Group by 4.7% during 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 purchasing an additional 40,620 shares during the period. Institutional investors own 50.96% of the company's stock.

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.