Short Interest in Hello Group Inc. (NASDAQ:MOMO) Drops By 33.6%

Hello Group Inc. (NASDAQ:MOMO - Get Free Report) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 2,490,000 shares, a decrease of 33.6% from the April 30th total of 3,750,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.0% of the company's stock are short sold.

Hello Group Price Performance

Hello Group stock traded up $0.04 during midday trading on Monday, reaching $6.11. The company's stock had a trading volume of 375,379 shares, compared to its average volume of 1,219,713. The stock's 50-day simple moving average is $5.89 and its 200-day simple moving average is $6.75. Hello Group has a 52-week low of $5.12 and a 52-week high of $8.38. The stock has a market capitalization of $736.18 million, a P/E ratio of 6.30, a PEG ratio of 2.07 and a beta of 0.24.

Hello Group Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th were paid a $0.30 dividend. This represents a yield of 4.18%. The ex-dividend date of this dividend was Friday, April 11th.

Institutional Investors Weigh In On Hello Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in Hello Group in the fourth quarter valued at about $35,000. Blue Trust Inc. increased its holdings in shares of Hello Group by 62.3% in the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock valued at $48,000 after purchasing an additional 2,414 shares during the period. Summit Securities Group LLC acquired a new position in shares of Hello Group in the first quarter valued at about $56,000. Nomura Holdings Inc. acquired a new position in shares of Hello Group in the first quarter valued at about $63,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Hello Group in the fourth quarter valued at about $79,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Hello Group from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Benchmark restated a "buy" rating and set a $13.00 price objective on shares of Hello Group in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.25.

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.