Hello Group (NASDAQ:MOMO) Sets New 52-Week Low - What's Next?

Key Points

• Hello Group shares hit a new 52-week low, falling to $5.29 before last trading at $5.3150, below the prior close of $5.49.
• Analyst sentiment is mixed, with ratings split among Buy, Hold, and Sell; the consensus rating is Hold, with an average price target of $9.05.
• The company has a market capitalization of approximately $571.7 million, while institutional investors own 50.96% of its stock and have recently increased their holdings.

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The company traded as low as $5.29 and last traded at $5.3150, with a volume of 464867 shares trading hands. The stock had previously closed at $5.49.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MOMO. UBS Group set a $10.00 price target 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 research report on Sunday, July 26th. Benchmark reaffirmed a "buy" rating 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 research note on Monday, August 3rd. One 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 stock presently has a consensus rating of "Hold" and an average target price of $9.05.

Hello Group Price Performance

The company has a 50 day moving average price of $5.85 and a 200 day moving average price of $5.98. The firm has a market cap of $571.71 million, a PE ratio of 8.30 and a beta of 0.45.

Institutional Investors Weigh In On Hello Group

Institutional investors and hedge funds have recently modified their holdings of the company. OMERS ADMINISTRATION Corp grew its holdings in Hello Group by 13.3% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,000 shares of the information services provider's stock valued at $111,000 after purchasing an additional 2,000 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Hello Group by 3.2% in the 1st quarter. Cetera Investment Advisers now owns 67,726 shares of the information services provider's stock worth $390,000 after buying an additional 2,096 shares during the period. ABN Amro Investment Solutions raised its holdings in shares of Hello Group by 9.6% in the 4th quarter. ABN Amro Investment Solutions now owns 26,300 shares of the information services provider's stock worth $172,000 after purchasing an additional 2,300 shares during the period. QRG Capital Management Inc. lifted its position in Hello Group by 12.1% during the first quarter. QRG Capital Management Inc. now owns 21,964 shares of the information services provider's stock valued at $127,000 after buying an additional 2,372 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Hello Group by 249.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider's stock valued at $26,000 after acquiring an additional 3,170 shares in the last quarter. Institutional investors and hedge funds own 50.96% of the company's stock.

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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