Hello Group (NASDAQ:MOMO) Stock Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Hello Group's stock crossed below its 200-day moving average during Thursday trading, trading as low as $5.83 and last at $5.84 versus a 200-day MA of $6.81 (50-day MA $6.46) on volume of 1,037,085 shares.
• Analysts hold a consensus "Hold" rating with a $8.10 target; recent notes include Zacks moving from "strong sell" to "hold," Weiss reiterating a hold (c), and Jefferies setting an $8.10 price objective.
• The company has a market capitalization of about $696.48 million, a P/E of 8.72 and beta of 0.35, with roughly 50.96% of shares owned by institutional investors and several funds recently buying or increasing stakes.

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.81 and traded as low as $5.83. Hello Group shares last traded at $5.84, with a volume of 1,037,085 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research raised shares of Hello Group from a "strong sell" rating to a "hold" rating in a research report on Monday, December 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hello Group in a research note on Monday, December 22nd. Finally, Jefferies Financial Group set a $8.10 price objective on shares of Hello Group in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Hello Group presently has a consensus rating of "Hold" and a consensus target price of $8.10.

Hello Group Price Performance

The stock has a 50-day moving average price of $6.46 and a 200-day moving average price of $6.81. The company has a market capitalization of $696.48 million, a price-to-earnings ratio of 8.72 and a beta of 0.35.

Institutional Investors Weigh In On Hello Group

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of Hello Group during the second quarter worth approximately $41,000. Loomis Sayles & Co. L P increased its stake in shares of Hello Group by 322.1% during the second quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider's stock worth $45,000 after purchasing an additional 4,113 shares during the period. Quarry LP acquired a new stake in Hello Group during the 3rd quarter worth approximately $65,000. Barclays PLC lifted its holdings in Hello Group by 696.8% during the 4th quarter. Barclays PLC now owns 10,000 shares of the information services provider's stock worth $66,000 after purchasing an additional 8,745 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in Hello Group in the 3rd quarter valued at $88,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

About Hello Group

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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