Hello Group (NASDAQ:MOMO) Sees Unusually-High Trading Volume - Here's What Happened

Hello Group Inc. (NASDAQ:MOMO - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 943,940 shares were traded 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 Analysts Forecast Growth

MOMO has been the subject of a number of research analyst reports. Wall Street Zen raised 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 issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $9.00.

Hello Group Stock Performance

The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 2.07 and a beta of 0.31. The stock's fifty day simple moving average is $6.10 and its two-hundred day simple moving average is $6.80.

Institutional Trading of Hello Group

A number of hedge funds have recently bought and sold shares of the company. QRG Capital Management Inc. lifted its stake 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 buying an additional 1,690 shares in the last quarter. Cetera Investment Advisers lifted its stake in Hello Group by 3.6% during the fourth quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider's stock valued at $500,000 after buying an additional 2,280 shares in the last quarter. US Bancorp DE lifted its stake in Hello Group by 3.9% during the first quarter. US Bancorp DE now owns 78,397 shares of the information services provider's stock valued at $495,000 after buying an additional 2,978 shares in the last quarter. Vident Advisory LLC lifted its stake in Hello Group by 34.0% during the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock valued at $122,000 after buying an additional 4,009 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Hello Group during the fourth quarter valued at about $35,000. 50.96% of the stock is owned by hedge funds and other institutional investors.

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.