Hello Group (NASDAQ:MOMO) Sets New 12-Month High - Still a Buy?

Shares of Hello Group Inc. (NASDAQ:MOMO - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.43 and last traded at $8.38, with a volume of 1873333 shares. The stock had previously closed at $8.07.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MOMO. Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Benchmark restated a "buy" rating and set a $13.00 target price 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 given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Hello Group has an average rating of "Hold" and a consensus price target of $9.00.

Hello Group Trading Down 0.8%

The firm has a market capitalization of $996.43 million, a price-to-earnings ratio of 8.53, a PEG ratio of 2.07 and a beta of 0.31. The company has a fifty day moving average price of $6.16 and a two-hundred day moving average price of $6.81.

Institutional Trading of Hello Group

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of Hello Group during the fourth quarter worth $35,000. Summit Securities Group LLC acquired a new position in Hello Group in the first quarter valued at $56,000. Nomura Holdings Inc. acquired a new position in Hello Group in the first quarter valued at $63,000. Hsbc Holdings PLC acquired a new position in Hello Group in the fourth quarter valued at $79,000. Finally, Aigen Investment Management LP acquired a new position in Hello Group in the first quarter valued at $85,000. Hedge funds and other 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.