Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) shares fell 6.4% during trading on Monday . The stock traded as low as $8.07 and last traded at $7.98. 616,440 shares changed hands during trading, a decline of 44% from the average session volume of 1,110,107 shares. The stock had previously closed at $8.52.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut Hello Group from a "buy" rating to a "hold" rating in a research report on Saturday. One research 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. Based on data from MarketBeat.com, Hello Group has an average rating of "Hold" and an average price target of $10.00.
Check Out Our Latest Report on Hello Group
Hello Group Stock Performance
The company has a market cap of $901.27 million, a price-to-earnings ratio of 8.40 and a beta of 0.38. The company has a 50-day simple moving average of $8.32 and a 200-day simple moving average of $7.28.
Institutional Investors Weigh In On Hello Group
A number of institutional investors and hedge funds have recently modified their holdings of MOMO. Raymond James Financial Inc. acquired a new stake in shares of Hello Group in the 2nd quarter worth approximately $41,000. Loomis Sayles & Co. L P grew its holdings in Hello Group by 322.1% during the 2nd quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider's stock valued at $45,000 after buying an additional 4,113 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Hello Group during the 1st quarter valued at $56,000. Nomura Holdings Inc. acquired a new stake in Hello Group during the 1st quarter valued at $63,000. Finally, Aigen Investment Management LP acquired a new stake in Hello Group during the 1st quarter valued at $85,000. Institutional investors and hedge funds own 50.96% of the company's stock.
About Hello Group
(
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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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