Hello Group Inc. (NASDAQ:MOMO - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as $8.43 and last traded at $8.38, with a volume of 1873333 shares traded. The stock had previously closed at $8.07.
Wall Street Analyst Weigh In
A number of equities analysts have commented on MOMO shares. Benchmark reissued a "buy" rating and issued a $13.00 price objective on shares of Hello Group in a research note on Thursday, March 13th. Wall Street Zen upgraded 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 assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $9.00.
Get Our Latest Stock Analysis on MOMO
Hello Group Stock Performance
The stock has a market capitalization of $1.00 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 2.07 and a beta of 0.31. The business's 50-day moving average price is $6.04 and its 200 day moving average price is $6.78.
Institutional Investors Weigh In On Hello Group
A number of institutional investors have recently added to or reduced their stakes in MOMO. SBI Securities Co. Ltd. purchased a new position in shares of Hello Group during the fourth quarter valued at approximately $35,000. QRG Capital Management Inc. increased its stake in Hello Group by 8.4% during the 4th quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider's stock worth $169,000 after buying an additional 1,690 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Hello Group in the 4th quarter valued at approximately $158,000. Millennium Management LLC boosted its position in shares of Hello Group by 1,590.1% during the fourth quarter. Millennium Management LLC now owns 174,536 shares of the information services provider's stock worth $1,346,000 after buying an additional 164,209 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in Hello Group in the fourth quarter valued at $79,000. 50.96% of the stock is owned by hedge funds and other institutional investors.
About Hello Group
(
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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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