Hello Group (NASDAQ:MOMO) Sets New 12-Month Low – Here’s What Happened

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) hit a new 52-week low during trading on Thursday . The company traded as low as $5.32 and last traded at $5.4050, with a volume of 146567 shares changing hands. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

MOMO has been the subject of several research reports. Weiss Ratings lowered shares of Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Benchmark restated a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. Finally, UBS Group set a $10.00 target price on shares of Hello Group in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.05.

Hello Group Stock Down 2.3%

The firm has a fifty day moving average price of $5.97 and a two-hundred day moving average price of $6.29. The stock has a market capitalization of $579.26 million, a P/E ratio of 8.41 and a beta of 0.46.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Hello Group by 23.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,194,428 shares of the information services provider’s stock valued at $7,824,000 after acquiring an additional 226,637 shares in the last quarter. Causeway Capital Management LLC lifted its position in Hello Group by 19.1% in the 3rd quarter. Causeway Capital Management LLC now owns 2,794,347 shares of the information services provider’s stock valued at $20,734,000 after acquiring an additional 448,123 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Hello Group by 142.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 767,326 shares of the information services provider’s stock valued at $5,694,000 after acquiring an additional 451,408 shares in the last quarter. Athos Capital Ltd purchased a new stake in Hello Group during the 4th quarter valued at $47,359,000. Finally, LSV Asset Management boosted its stake in Hello Group by 21.3% during the 4th quarter. LSV Asset Management now owns 3,565,971 shares of the information services provider’s stock valued at $23,357,000 after purchasing an additional 626,152 shares during the last quarter. Institutional investors own 50.96% of the company’s stock.

Hello Group Company Profile

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.