Hello Group Inc. (NASDAQ:MOMO - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $6.25, but opened at $6.70. Hello Group shares last traded at $6.85, with a volume of 546,814 shares changing hands.
Wall Street Analysts Forecast Growth
MOMO has been the topic of several recent analyst reports. Wall Street Zen raised Hello Group from a "hold" rating to a "buy" rating in a research note on Friday. Benchmark reiterated a "buy" rating and set a $13.00 target price on shares of Hello Group in a research report on Thursday, March 13th. One equities 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 company. Based on data from MarketBeat, Hello Group presently has an average rating of "Hold" and an average target price of $9.00.
Check Out Our Latest Report on MOMO
Hello Group Trading Up 7.1%
The company has a market cap of $910.88 million, a P/E ratio of 7.79, a PEG ratio of 2.07 and a beta of 0.31. The stock's 50-day moving average price is $5.92 and its 200-day moving average price is $6.75.
Hello Group Cuts Dividend
The firm also recently declared an annual dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 11th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a yield of 4.18%.
Hedge Funds Weigh In On Hello Group
Large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in Hello Group in the 4th quarter valued at about $35,000. Blue Trust Inc. grew its position in Hello Group by 62.3% in the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock worth $48,000 after purchasing an additional 2,414 shares in the last quarter. Summit Securities Group LLC bought a new stake in Hello Group in the 1st quarter worth about $56,000. Nomura Holdings Inc. bought a new position in shares of Hello Group during the 1st quarter worth approximately $63,000. Finally, Hsbc Holdings PLC bought a new position in shares of Hello Group during the 4th quarter worth approximately $79,000. Institutional investors own 50.96% of the company's stock.
Hello Group Company Profile
(
Get Free Report)
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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