Hello Group (NASDAQ:MOMO) Share Price Breaks Below Two Hundred Day Moving Average - What's Next?

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Get Free Report) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $5.83 and traded as low as $4.92. Hello Group shares last traded at $5.01, with a volume of 681,980 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MOMO shares. UBS Group set a $10.00 price target on Hello Group in a report on Thursday, June 4th. Benchmark reissued a "buy" rating on shares of Hello Group in a report on Thursday, June 4th. Weiss Ratings restated a "sell (d+)" rating on shares of Hello Group in a research report on Monday, August 3rd. Finally, Wall Street Zen downgraded Hello Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. One equities 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. Based on data from MarketBeat, Hello Group presently has a consensus rating of "Hold" and a consensus price target of $9.05.

Hello Group Stock Performance

The stock has a market cap of $538.90 million, a price-to-earnings ratio of 5.11 and a beta of 0.45. The company's 50 day simple moving average is $5.57 and its 200 day simple moving average is $5.83.

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 for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $365.91 million during the quarter, compared to analyst estimates of $363.62 million. Hello Group had a net margin of 11.02% and a return on equity of 10.43%. The business's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.58) EPS.

Institutional Investors Weigh In On Hello Group

A number of institutional investors have recently added to or reduced their stakes in MOMO. Tidal Investments LLC bought a new stake in shares of Hello Group in the 2nd quarter worth $59,000. WINTON GROUP Ltd bought a new position in Hello Group during the second quarter valued at about $116,000. Maven Securities LTD acquired a new position in Hello Group during the second quarter worth about $833,000. NewEdge Advisors LLC grew its holdings in Hello Group by 2,241,800.0% during the second quarter. NewEdge Advisors LLC now owns 22,419 shares of the information services provider's stock worth $130,000 after acquiring an additional 22,418 shares during the period. Finally, BTG Pactual Asset Management US LLC raised its position in Hello Group by 376.1% in the second quarter. BTG Pactual Asset Management US LLC now owns 70,163 shares of the information services provider's stock worth $407,000 after acquiring an additional 55,427 shares in the last quarter. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Company Profile

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.