Hello Group (NASDAQ:MOMO) Trading Down 6.4% - What's Next?

Key Points

• Hello Group Inc. shares dropped by 6.4% to trade at $7.98 after closing at $8.52, with a 44% decline in trading volume compared to the average.
• Analyst ratings have mixed sentiments, with one upgrade to a "buy" rating and an average target price of $10.00, despite the overall average rating remaining a "hold."
• Institutional investors own 50.96% of Hello Group's stock, with several hedge funds increasing their stakes significantly in recent quarters.

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) dropped 6.4% during trading on Monday . The company traded as low as $8.07 and last traded at $7.98. Approximately 616,440 shares were traded during trading, a decline of 44% from the average daily volume of 1,110,107 shares. The stock had previously closed at $8.52.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $10.00.

Hello Group Stock Performance

The firm has a market capitalization of $978.38 million, a P/E ratio of 6.25 and a beta of 0.38. The stock has a 50 day moving average of $8.39 and a two-hundred day moving average of $7.28.

Institutional Trading of Hello Group

Several hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers lifted its stake in shares of Hello Group by 3.6% in the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider's stock valued at $500,000 after acquiring an additional 2,280 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Hello Group by 3.9% in the 1st quarter. US Bancorp DE now owns 78,397 shares of the information services provider's stock valued at $495,000 after acquiring an additional 2,978 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Hello Group by 14.2% in the first quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider's stock worth $157,000 after purchasing an additional 3,098 shares during the last quarter. Vident Advisory LLC increased its holdings in Hello Group by 34.0% during the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock valued at $122,000 after buying an additional 4,009 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in Hello Group by 322.1% in 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 last quarter. 50.96% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.