Hello Group (NASDAQ:MOMO) Stock Price Up 6.8%

Hello Group Inc. (NASDAQ:MOMO - Get Free Report)'s share price was up 6.8% on Tuesday . The stock traded as high as $6.98 and last traded at $6.94. Approximately 274,350 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,781,681 shares. The stock had previously closed at $6.50.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MOMO. JPMorgan Chase & Co. lowered shares of Hello Group from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $13.00 to $6.00 in a research report on Monday, June 3rd. StockNews.com upgraded shares of Hello Group from a "sell" rating to a "hold" rating in a research note on Wednesday, September 4th. Citigroup decreased their target price on shares of Hello Group from $6.40 to $5.70 and set a "neutral" rating for the company in a research note on Wednesday, May 29th. Jefferies Financial Group boosted their price target on Hello Group from $6.50 to $7.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Finally, Benchmark decreased their price objective on Hello Group from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Hello Group presently has an average rating of "Hold" and a consensus target price of $7.93.

Hello Group Price Performance

The firm has a market cap of $1.04 billion, a PE ratio of 6.50, a price-to-earnings-growth ratio of 1.93 and a beta of 0.53. The company has a 50 day moving average price of $6.61 and a 200 day moving average price of $6.20. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.17.

Hello Group (NASDAQ:MOMO - Get Free Report) last issued its quarterly earnings data on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $2.13. The firm had revenue of $2.69 billion for the quarter, compared to analysts' expectations of $2.67 billion. Hello Group had a net margin of 12.40% and a return on equity of 12.09%. The firm's revenue was down 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. On average, sell-side analysts expect that Hello Group Inc. will post 0.75 EPS for the current year.

Hedge Funds Weigh In On Hello Group

Several institutional investors and hedge funds have recently modified their holdings of the company. BRIGHT VALLEY CAPITAL Ltd acquired a new position in shares of Hello Group during the 2nd quarter valued at about $22,553,000. Acadian Asset Management LLC raised its stake in Hello Group by 26.4% during the first quarter. Acadian Asset Management LLC now owns 7,377,789 shares of the information services provider's stock worth $45,781,000 after purchasing an additional 1,538,632 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of Hello Group by 994.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,617,308 shares of the information services provider's stock valued at $10,043,000 after purchasing an additional 1,469,500 shares during the last quarter. Polunin Capital Partners Ltd purchased a new stake in shares of Hello Group during the 2nd quarter valued at $4,566,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Hello Group by 188.3% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,001,600 shares of the information services provider's stock worth $6,961,000 after buying an additional 654,200 shares during the last quarter. Hedge funds and other institutional investors own 50.96% of the company's stock.

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.