Hello Group (NASDAQ:MOMO) Hits New 52-Week High – Still a Buy?

Hello Group Inc. (NASDAQ:MOMO) shares hit a new 52-week high on Friday . The company traded as high as $8.38 and last traded at $8.28, with a volume of 797407 shares changing hands. The stock had previously closed at $8.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MOMO shares. Citigroup lifted their price objective 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. Bank of America lowered shares of Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.25.

Hello Group Stock Performance

The firm has a market cap of $1.18 billion, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.47. The firm’s fifty day moving average price is $7.35 and its 200 day moving average price is $7.05.

Institutional Investors Weigh In On Hello Group

Several large investors have recently modified their holdings of MOMO. SG Americas Securities LLC bought a new stake in shares of Hello Group in the 3rd quarter valued at about $125,000. Blue Trust Inc. raised its holdings in shares of Hello Group by 472.1% in the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 3,196 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Hello Group in the 3rd quarter valued at about $322,000. First Beijing Investment Ltd bought a new stake in shares of Hello Group in the 3rd quarter valued at about $30,773,000. Finally, KBC Group NV raised its holdings in shares of 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 in the last quarter. 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.