Hello Group (NASDAQ:MOMO) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.59 and traded as low as $6.94. Hello Group shares last traded at $6.95, with a volume of 841,756 shares changing hands.

Analysts Set New Price Targets

MOMO has been the topic of a number of research analyst reports. Wall Street Zen lowered Hello Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Zacks Research cut Hello Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hello Group in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Hello Group presently has a consensus rating of “Hold” and an average target price of $10.00.

Hello Group Price Performance

The company has a market capitalization of $828.86 million, a price-to-earnings ratio of 7.81 and a beta of 0.25. The firm has a 50-day moving average price of $7.06 and a two-hundred day moving average price of $7.59.

Institutional Trading of Hello Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MOMO. Raymond James Financial Inc. bought a new stake in shares of Hello Group in the second quarter worth $41,000. Loomis Sayles & Co. L P increased its stake in Hello Group by 322.1% in the 2nd quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider’s stock valued at $45,000 after buying an additional 4,113 shares during the last quarter. Summit Securities Group LLC bought a new stake in Hello Group during the 1st quarter worth about $56,000. Nomura Holdings Inc. acquired a new position in shares of Hello Group during the 1st quarter worth about $63,000. Finally, Quarry LP bought a new position in shares of Hello Group in the 3rd quarter valued at about $65,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

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.