Hello Group Inc. (NASDAQ:MOMO) Receives $8.25 Average Price Target from Analysts

Shares of Hello Group Inc. (NASDAQ:MOMO) have been given an average recommendation of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.25.

A number of equities research analysts have recently commented 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. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Citigroup increased their target price on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th.

Institutional Trading of Hello Group

Institutional investors have recently modified their holdings of the stock. First Beijing Investment Ltd purchased a new position in Hello Group in the 3rd quarter valued at about $30,773,000. Assenagon Asset Management S.A. purchased a new position in shares of Hello Group in the fourth quarter valued at approximately $8,616,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Hello Group in the third quarter worth approximately $1,013,000. Polymer Capital Management HK LTD purchased a new stake in shares of Hello Group during the third quarter worth approximately $894,000. Finally, KBC Group NV raised its stake in Hello Group by 439.6% in the 3rd quarter. KBC Group NV now owns 67,412 shares of the information services provider’s stock valued at $513,000 after purchasing an additional 54,920 shares during the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Stock Up 0.7 %

Hello Group stock opened at $7.42 on Monday. The business’s 50-day moving average price is $7.23 and its 200 day moving average price is $6.97. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 1.89 and a beta of 0.47. Hello Group has a 52 week low of $4.79 and a 52 week high of $8.19.

About Hello Group

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.