Hello Group (NASDAQ:MOMO) Hits New 52-Week High – Still a Buy?

Hello Group Inc. (NASDAQ:MOMO) shares reached a new 52-week high on Friday . The stock traded as high as $8.38 and last traded at $8.28, with a volume of 797407 shares trading hands. The stock had previously closed at $8.07.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America cut shares of Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Citigroup raised their target price on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.25.

Hello Group Trading Up 0.9 %

The firm has a market capitalization of $1.18 billion, a PE ratio of 8.40, a PEG ratio of 2.07 and a beta of 0.47. The business’s 50 day simple moving average is $7.35 and its 200 day simple moving average is $7.05.

Institutional Investors Weigh In On Hello Group

Several institutional investors have recently made changes to their positions in MOMO. Blue Trust Inc. lifted its holdings in shares of Hello Group by 472.1% in the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after acquiring an additional 3,196 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Hello Group in the 4th quarter worth about $35,000. Hsbc Holdings PLC bought a new stake in shares of Hello Group in the 4th quarter worth about $79,000. Kathmere Capital Management LLC lifted its holdings in shares of Hello Group by 30.1% in the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock worth $113,000 after acquiring an additional 3,407 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Hello Group by 34.0% in the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock worth $122,000 after acquiring an additional 4,009 shares during the last quarter. 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.