Hello Group (NASDAQ:MOMO) Upgraded by Wall Street Zen to "Buy" Rating

Hello Group (NASDAQ:MOMO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

Separately, Benchmark reaffirmed a "buy" rating and set a $13.00 price target on shares of Hello Group in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $9.00.

Hello Group Stock Performance

Shares of Hello Group stock traded up $0.50 during trading hours on Friday, hitting $7.56. The company's stock had a trading volume of 2,465,933 shares, compared to its average volume of 1,218,701. The firm has a fifty day moving average of $5.92 and a 200-day moving average of $6.75. The stock has a market cap of $910.88 million, a price-to-earnings ratio of 7.79, a P/E/G ratio of 2.07 and a beta of 0.31. Hello Group has a twelve month low of $5.12 and a twelve month high of $8.38.

Institutional Investors Weigh In On Hello Group

Several hedge funds have recently made changes to their positions in MOMO. SBI Securities Co. Ltd. acquired a new position in shares of Hello Group in the 4th quarter valued at $35,000. Blue Trust Inc. increased its stake in Hello Group by 62.3% during the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock worth $48,000 after acquiring an additional 2,414 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Hello Group in the 1st quarter worth about $56,000. Nomura Holdings Inc. acquired a new position in shares of Hello Group in the 1st quarter valued at about $63,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Hello Group during the 4th quarter worth about $79,000. Institutional investors and hedge funds own 50.96% of the company's stock.

About Hello Group

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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