Hello Group Inc. (NASDAQ:MOMO - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 6,718 call options on the stock. This represents an increase of 392% compared to the typical daily volume of 1,366 call options.
Hello Group Stock Performance
Shares of MOMO traded down $0.30 during mid-day trading on Friday, hitting $7.37. 857,896 shares of the company's stock were exchanged, compared to its average volume of 976,672. The stock's 50-day moving average is $7.39 and its 200-day moving average is $7.08. Hello Group has a fifty-two week low of $4.79 and a fifty-two week high of $8.38. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 7.60, a P/E/G ratio of 2.07 and a beta of 0.47.
Wall Street Analyst Weigh In
Several research analysts have weighed in on MOMO shares. Bank of America lowered shares of Hello Group from a "buy" rating to an "underperform" rating in a research note on Wednesday, November 6th. Citigroup increased their price objective on shares of Hello Group from $5.90 to $7.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Hello Group from a "sell" rating to a "hold" rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.25.
Read Our Latest Stock Analysis on MOMO
Institutional Trading of Hello Group
Several hedge funds have recently modified their holdings of MOMO. First Beijing Investment Ltd acquired a new stake in Hello Group in the 3rd quarter valued at about $30,773,000. Norges Bank purchased a new stake in shares of Hello Group during the fourth quarter worth approximately $10,765,000. Assenagon Asset Management S.A. acquired a new stake in Hello Group in the fourth quarter valued at approximately $8,616,000. BNP Paribas Financial Markets acquired a new stake in Hello Group in the fourth quarter valued at approximately $4,535,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Hello Group in the fourth quarter worth approximately $1,789,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.
About Hello Group
(
Get Free Report)
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.
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