Hello Group (NASDAQ:MOMO) Stock Passes Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Hello Group Inc. (NASDAQ:MOMO) shares have fallen below their 200-day moving average, trading at $6.83, which raises concerns about potential downward momentum.
• Recent analyst ratings have downgraded Hello Group from a "buy" to a "hold," reflecting a cautious outlook with a consensus target price of $10.00.
• Institutional investors hold 50.96% of Hello Group's shares, with several hedge funds increasing their stakes recently, indicating some continued interest despite the stock's poor performance.

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.33 and traded as low as $6.81. Hello Group shares last traded at $6.83, with a volume of 600,132 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MOMO shares. Wall Street Zen cut Hello Group from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hello Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Hello Group has a consensus rating of "Hold" and an average target price of $10.00.

Hello Group Trading Down 1.4%

The company has a fifty day moving average of $7.74 and a 200-day moving average of $7.33. The company has a market capitalization of $814.55 million, a price-to-earnings ratio of 7.67 and a beta of 0.23.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MOMO. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 546,048 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Hello Group by 1.2% in the second quarter. Acadian Asset Management LLC now owns 6,629,672 shares of the information services provider's stock worth $55,926,000 after buying an additional 75,838 shares in the last quarter. LSV Asset Management lifted its stake in shares of Hello Group by 0.5% in the second quarter. LSV Asset Management now owns 2,766,395 shares of the information services provider's stock worth $23,348,000 after buying an additional 14,420 shares in the last quarter. Causeway Capital Management LLC boosted its position in Hello Group by 136.2% during the first quarter. Causeway Capital Management LLC now owns 2,089,913 shares of the information services provider's stock worth $13,187,000 after acquiring an additional 1,205,166 shares during the last quarter. Finally, Norges Bank purchased a new stake in Hello Group during the 2nd quarter valued at about $14,976,000. 50.96% of the stock is owned by institutional investors and hedge funds.

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.

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