Hello Group Inc. Sponsored ADR (NASDAQ:MOMO – Get Free Report) shares saw unusually-high trading volume on Tuesday. 1,248,917 shares changed hands during mid-day trading, an increase of 63% from the previous session’s volume of 766,432 shares. The stock last traded at $4.7150 and had previously closed at $4.64.
Analyst Upgrades and Downgrades
MOMO has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Hello Group in a research note on Monday, August 3rd. Wall Street Zen downgraded shares of Hello Group from a “buy” rating to a “hold” rating in a report 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Hello Group currently has a consensus rating of “Hold” and an average target price of $9.05.
View Our Latest Research Report on MOMO
Hello Group Stock Up 2.9%
Hello Group (NASDAQ:MOMO – Get Free Report) last posted its earnings results on Thursday, September 3rd. The information services provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Hello Group had a net margin of 11.02% and a return on equity of 10.43%. The firm had revenue of $365.91 million during the quarter, compared to the consensus estimate of $363.62 million. During the same quarter in the prior year, the company earned ($0.58) EPS. The company’s revenue was down 5.1% on a year-over-year basis.
Institutional Investors Weigh In On Hello Group
Several hedge funds and other institutional investors have recently modified their holdings of MOMO. EverSource Wealth Advisors LLC grew its position in shares of Hello Group by 249.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock valued at $26,000 after buying an additional 3,170 shares during the last quarter. Ramsey Quantitative Systems acquired a new position in Hello Group in the second quarter valued at approximately $26,000. Tidal Investments LLC bought a new position in shares of Hello Group during the second quarter valued at approximately $59,000. Pinnacle Holdings LLC bought a new position in shares of Hello Group during the second quarter valued at approximately $60,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Hello Group during the 2nd quarter worth approximately $116,000. Institutional investors own 50.96% of the company’s stock.
Hello Group Company Profile
Hello Group Inc, formerly known as Momo Inc, is a China-based mobile social networking and entertainment company. Founded in 2011, the company operates digital platforms that help users discover and interact with people based on location, interests and other social connections.
Its principal products include Momo, a social networking application that offers messaging, content sharing, live video and other interactive features, and Tantan, a dating and relationship-focused platform acquired by the company in 2018.
See Also
- Five stocks we like better than Hello Group
- Curaleaf’s Higher Aurora Bid Raises the Stakes in Cannabis Consolidation
- Why onsemi’s Synaptics Pivot Could Be a Game Changer
- AI Chip Demand Gives Linde a New Growth Catalyst
- Qualcomm’s Huawei Deal Adds Strategic Depth to Its AI Expansion
Receive News & Ratings for Hello Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hello Group and related companies with MarketBeat.com's FREE daily email newsletter.
