Hello Group (NASDAQ:MOMO) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Hello Group Inc. (NASDAQ:MOMO) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.12 and traded as low as $6.67. Hello Group shares last traded at $6.67, with a volume of 1,691,670 shares trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on MOMO. Citigroup raised their target price on Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. StockNews.com upgraded Hello Group from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Finally, Benchmark reiterated a “buy” rating and issued a $13.00 price objective on shares of Hello Group in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Hello Group currently has a consensus rating of “Hold” and an average price target of $8.25.

Hello Group Stock Down 1.5 %

The company has a market capitalization of $951.99 million, a price-to-earnings ratio of 6.77, a P/E/G ratio of 2.07 and a beta of 0.44. The business has a fifty day simple moving average of $7.35 and a two-hundred day simple moving average of $7.12.

Hello Group Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th will be paid a $0.30 dividend. This represents a dividend yield of 4.18%. The ex-dividend date is Friday, April 11th.

Institutional Trading of Hello Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Hello Group during the fourth quarter worth about $35,000. Blue Trust Inc. raised its position in shares of Hello Group by 62.3% in the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after buying an additional 2,414 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Hello Group in the fourth quarter valued at approximately $79,000. Kathmere Capital Management LLC raised its position in Hello Group by 30.1% during the fourth quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 3,407 shares in the last quarter. Finally, Vident Advisory LLC raised its position in Hello Group by 34.0% during the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock valued at $122,000 after purchasing an additional 4,009 shares in the last quarter. Institutional investors and hedge funds 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.