Hello Group (NASDAQ:MOMO) Hits New 52-Week Low - Here's Why

Key Points

• Hello Group shares hit a new 52-week low of $4.84, below their 50-day and 200-day moving averages of $5.53 and $5.81, respectively.
• Analyst sentiment is mixed, with ratings split among Buy, Hold, and Sell; the average rating is “Hold” and the average price target is $9.05.
• The company beat quarterly earnings and revenue estimates, reporting EPS of $0.26 and revenue of $365.91 million, though revenue declined 5.1% year over year.

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) reached a new 52-week low on Tuesday. The company traded as low as $4.84 and last traded at $4.8750, with a volume of 140986 shares changing hands. The stock had previously closed at $4.90.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MOMO shares. Benchmark reissued a "buy" rating on shares of Hello Group in a report on Thursday, June 4th. Wall Street Zen lowered shares of Hello Group from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. UBS Group set a $10.00 target price on shares of Hello Group in a research note on Thursday, June 4th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Hello Group in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $9.05.

Hello Group Stock Performance

The business has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $5.81. The firm has a market capitalization of $524.40 million, a P/E ratio of 4.96 and a beta of 0.45.

Hello Group (NASDAQ:MOMO - Get Free Report) last issued its quarterly earnings results on Thursday, September 3rd. The information services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. Hello Group had a return on equity of 10.43% and a net margin of 11.02%.The firm had revenue of $365.91 million during the quarter, compared to the consensus estimate of $363.62 million. During the same quarter last year, the company posted ($0.58) EPS. The company's revenue for the quarter was down 5.1% on a year-over-year basis.

Hedge Funds Weigh In On Hello Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MOMO. Athos Capital Ltd bought a new position in shares of Hello Group in the 4th quarter worth $47,359,000. Dimensional Fund Advisors LP grew its position in Hello Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,408,461 shares of the information services provider's stock worth $13,868,000 after acquiring an additional 37,306 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Hello Group in the second quarter worth $6,176,000. Public Employees Retirement System of Ohio bought a new position in Hello Group in the second quarter valued at $1,087,000. Finally, Wellington Management Group LLP increased its stake in Hello Group by 92.9% in the second quarter. Wellington Management Group LLP now owns 161,492 shares of the information services provider's stock valued at $937,000 after acquiring an additional 77,773 shares during the last quarter. Hedge funds and other institutional investors own 50.96% of the company's stock.

About Hello Group

Hello Group Inc, formerly known as Momo Inc, is a Chinese social networking and entertainment company. Founded in 2011, the company operates mobile applications that help users discover, connect and interact with one another through messaging, interest-based communities, live streaming and other digital services.

Its flagship Momo platform provides social networking features, including user profiles, messaging, livestreaming, short-form video and virtual gifting. Hello Group also operates Tantan, a dating and social discovery application acquired in 2018.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.