Hello Group (NASDAQ:MOMO) Given New $7.00 Price Target at Citigroup

Hello Group (NASDAQ:MOMO) had its price objective increased by investment analysts at Citigroup from $5.90 to $7.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the information services provider’s stock. Citigroup’s price objective would indicate a potential downside of 7.89% from the company’s current price.

A number of other research firms also recently issued reports on MOMO. Benchmark decreased their price objective on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Bank of America downgraded shares of Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group raised their price objective on shares of Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Two 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. According to data from MarketBeat, Hello Group currently has a consensus rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Up 2.8 %

Shares of Hello Group stock traded up $0.21 during trading hours on Tuesday, reaching $7.60. The company’s stock had a trading volume of 1,096,972 shares, compared to its average volume of 1,661,533. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.55 and a current ratio of 2.55. The stock’s fifty day simple moving average is $6.97 and its two-hundred day simple moving average is $6.58. Hello Group has a one year low of $4.79 and a one year high of $8.19. The company has a market capitalization of $1.10 billion, a P/E ratio of 7.60, a P/E/G ratio of 2.07 and a beta of 0.51.

Institutional Investors Weigh In On Hello Group

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of Hello Group by 472.1% in the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after purchasing an additional 3,196 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Hello Group in the second quarter worth about $68,000. Kathmere Capital Management LLC purchased a new stake in Hello Group in the second quarter worth about $74,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Hello Group in the second quarter worth about $87,000. Finally, SG Americas Securities LLC purchased a new stake in Hello Group in the third quarter worth about $125,000. 50.96% of the stock is currently owned by institutional investors.

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.