Hello Group (NASDAQ:MOMO) Sets New 52-Week High - Should You Buy?

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $8.69 and last traded at $8.63, with a volume of 377569 shares traded. The stock had previously closed at $8.40.

Analyst Upgrades and Downgrades

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

Hello Group Stock Performance

The firm's 50 day moving average is $6.58 and its 200 day moving average is $6.90. The stock has a market cap of $1.03 billion, a P/E ratio of 6.59 and a beta of 0.31.

Institutional Investors Weigh In On Hello Group

Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its position in Hello Group by 7.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider's stock worth $51,284,000 after acquiring an additional 546,048 shares during the period. Acadian Asset Management LLC raised its stake in shares of Hello Group by 5.2% in the first quarter. Acadian Asset Management LLC now owns 6,553,834 shares of the information services provider's stock worth $41,330,000 after purchasing an additional 322,603 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Hello Group by 25.4% during the first quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider's stock worth $17,365,000 after purchasing an additional 557,777 shares during the period. Causeway Capital Management LLC boosted its position in Hello Group by 136.2% in the first quarter. Causeway Capital Management LLC now owns 2,089,913 shares of the information services provider's stock valued at $13,187,000 after buying an additional 1,205,166 shares during the last quarter. Finally, Norges Bank purchased a new stake in Hello Group in the fourth quarter valued at approximately $10,765,000. 50.96% of the stock is owned by hedge funds and other institutional investors.

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.