Hello Group (NASDAQ:MOMO) Share Price Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Hello Group (NASDAQ:MOMO) fell below its 200-day moving average during Friday’s trading, with shares dipping to as low as $6.06 versus the $6.22 average.
• Analyst sentiment is mixed: UBS set a $10 price target, Benchmark reiterated a Buy, and Weiss Ratings downgraded the stock to Sell. MarketBeat shows an overall Hold rating with an average target price of $9.05.
• The company has a market cap of $651.87 million and a P/E ratio of 9.47, while institutional investors own 50.96% of the stock.

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.22 and traded as low as $6.06. Hello Group shares last traded at $6.06, with a volume of 498,060 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group set a $10.00 price objective on Hello Group in a report on Thursday, June 4th. Benchmark reissued a "buy" rating on shares of Hello Group in a research report on Thursday, June 4th. Finally, Weiss Ratings downgraded Hello Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $9.05.

Hello Group Stock Performance

The stock has a market cap of $651.87 million, a P/E ratio of 9.47 and a beta of 0.45. The business's 50-day moving average price is $5.88 and its 200-day moving average price is $6.22.

Institutional Trading of Hello Group

Hedge funds have recently bought and sold shares of the stock. Ramsey Quantitative Systems bought a new position in shares of Hello Group during the 2nd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in Hello Group by 249.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider's stock worth $26,000 after buying an additional 3,170 shares during the period. Raymond James Financial Inc. purchased a new stake in Hello Group in the 2nd quarter worth $41,000. Quarry LP purchased a new stake in Hello Group in the 3rd quarter worth $65,000. Finally, Barclays PLC raised its holdings in Hello Group by 696.8% during the fourth quarter. Barclays PLC now owns 10,000 shares of the information services provider's stock valued at $66,000 after acquiring an additional 8,745 shares during the period. Institutional investors own 50.96% of the company's stock.

Hello Group Company Profile

Hello Group Inc NASDAQ: MOMO is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group's portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.

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