Hello Group Inc. Sponsored ADR (NASDAQ:MOMO – Get Free Report) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $4.51 and last traded at $4.53, with a volume of 686,268 shares changing hands. The stock had previously closed at $4.65.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on MOMO. Weiss Ratings lowered Hello Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 9th. Wall Street Zen downgraded Hello Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Hello Group presently has an average rating of “Hold” and a consensus price target of $9.05.
Get Our Latest Analysis on MOMO
Hello Group Stock Performance
The firm has a market capitalization of $484.60 million, a price-to-earnings ratio of 4.60 and a beta of 0.38. The company has a 50 day moving average price of $5.10 and a two-hundred day moving average price of $5.65.
Hello Group (NASDAQ:MOMO – Get Free Report) last issued its quarterly earnings results on Thursday, September 3rd. The information services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $365.91 million during the quarter, compared to analyst estimates of $363.62 million. Hello Group had a net margin of 11.02% and a return on equity of 10.43%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.58) EPS.
Institutional Trading of Hello Group
Several large investors have recently made changes to their positions in MOMO. Dimensional Fund Advisors LP lifted its stake in Hello Group by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,408,461 shares of the information services provider’s stock worth $13,868,000 after purchasing an additional 37,306 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Hello Group during the 2nd quarter worth $6,176,000. Public Employees Retirement System of Ohio acquired a new position in shares of Hello Group during the 2nd quarter valued at about $1,087,000. Wellington Management Group LLP increased its position in Hello Group by 92.9% during the second quarter. Wellington Management Group LLP now owns 161,492 shares of the information services provider’s stock worth $937,000 after purchasing an additional 77,773 shares during the last quarter. Finally, Maven Securities LTD purchased a new position in Hello Group during the second quarter worth about $833,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.
About Hello Group
Hello Group Inc is a China-based social networking and entertainment company that operates mobile applications and related online services. Founded in 2011 as Momo Inc, the company changed its corporate name to Hello Group in 2020 as it expanded beyond its original Momo platform.
The company’s flagship Momo application helps users discover and interact with people based on location and shared interests. Its services have included social networking, messaging, live video, short-form video, audio and other interactive entertainment features.
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