Hello Group (NASDAQ:MOMO) Receives “Buy” Rating from Benchmark

Hello Group (NASDAQ:MOMO)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a research note issued to investors on Thursday,Benzinga reports. They currently have a $13.00 target price on the information services provider’s stock. Benchmark’s price target points to a potential upside of 83.23% from the stock’s current price.

A number of other analysts also recently issued reports on MOMO. Citigroup lifted their price target on shares of 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 shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Hello Group has an average rating of “Hold” and a consensus price target of $8.25.

Hello Group Stock Performance

MOMO traded up $0.30 during trading on Thursday, reaching $7.10. 574,725 shares of the company traded hands, compared to its average volume of 1,053,519. Hello Group has a 12-month low of $4.79 and a 12-month high of $8.38. The firm has a fifty day simple moving average of $7.37 and a 200 day simple moving average of $7.11. The company has a market cap of $1.03 billion, a P/E ratio of 7.31, a PEG ratio of 2.07 and a beta of 0.44.

Hedge Funds Weigh In On Hello Group

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new position in shares of Hello Group in the fourth quarter worth about $35,000. Blue Trust Inc. grew its stake in Hello Group by 62.3% in the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock worth $48,000 after acquiring an additional 2,414 shares in the last quarter. Hsbc Holdings PLC bought a new position in Hello Group in the 4th quarter worth about $79,000. Kathmere Capital Management LLC raised its stake in shares of 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 acquiring an additional 3,407 shares in the last quarter. Finally, Vident Advisory LLC boosted its holdings in shares of Hello Group by 34.0% in 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 during the period. Institutional investors own 50.96% of the company’s stock.

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.