Hello Group (NASDAQ:MOMO) Raised to “Hold” at StockNews.com

Hello Group (NASDAQ:MOMO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other brokerages have also recently issued reports on MOMO. Benchmark reduced their target price on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Jefferies Financial Group lifted their price objective on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Bank of America cut Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.93.

Hello Group Stock Performance

NASDAQ MOMO opened at $6.32 on Wednesday. The company’s 50-day simple moving average is $7.00 and its 200 day simple moving average is $6.53. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.17. Hello Group has a twelve month low of $4.79 and a twelve month high of $8.19. The stock has a market cap of $915.76 million, a P/E ratio of 6.32, a PEG ratio of 1.94 and a beta of 0.54.

Hello Group (NASDAQ:MOMO) last posted its quarterly earnings data on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $2.13. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. As a group, research analysts forecast that Hello Group will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hello Group

Large investors have recently modified their holdings of the business. Cetera Advisors LLC acquired a new position in shares of Hello Group in the first quarter valued at approximately $355,000. Kathmere Capital Management LLC bought a new stake in Hello Group during the second quarter worth $74,000. Polunin Capital Partners Ltd bought a new stake in Hello Group in the 2nd quarter worth about $4,566,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Hello Group by 19.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 67,812 shares of the information services provider’s stock valued at $415,000 after purchasing an additional 11,013 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of Hello Group by 856.7% during the 2nd quarter. Headlands Technologies LLC now owns 45,049 shares of the information services provider’s stock valued at $276,000 after buying an additional 40,340 shares during 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.