StockNews.com Upgrades Hello Group (NASDAQ:MOMO) to "Buy"

Hello Group (NASDAQ:MOMO - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Tuesday.

Several other brokerages have also recently issued reports on MOMO. Benchmark restated a "buy" rating and issued a $13.00 target price on shares of Hello Group in a report on Thursday, March 13th. Citigroup boosted their target price on Hello Group from $5.90 to $7.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.25.

Hello Group Price Performance

Shares of NASDAQ MOMO traded down $0.26 during midday trading on Tuesday, hitting $6.32. 773,976 shares of the company's stock were exchanged, compared to its average volume of 1,404,159. The firm's fifty day simple moving average is $7.33 and its 200-day simple moving average is $7.12. The company has a market cap of $915.76 million, a PE ratio of 6.52, a P/E/G ratio of 2.07 and a beta of 0.44. Hello Group has a twelve month low of $4.79 and a twelve month high of $8.38.

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Institutional Trading of Hello Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Hello Group during the fourth quarter worth $10,765,000. Assenagon Asset Management S.A. purchased a new stake in Hello Group in the 4th quarter valued at approximately $8,616,000. BNP Paribas Financial Markets acquired a new position in Hello Group during the 4th quarter worth approximately $4,535,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Hello Group during the 4th quarter worth approximately $1,789,000. Finally, Millennium Management LLC raised its stake in shares of Hello Group by 1,590.1% during the 4th quarter. Millennium Management LLC now owns 174,536 shares of the information services provider's stock worth $1,346,000 after buying an additional 164,209 shares in the last quarter. 50.96% of the stock is owned by hedge funds and other institutional investors.

Hello Group Company Profile

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.