Hello Group (NASDAQ:MOMO) Shares Down 2.6% – Time to Sell?

Hello Group Inc. (NASDAQ:MOMO) shares fell 2.6% during trading on Thursday . The stock traded as low as $7.45 and last traded at $7.51. 101,823 shares were traded during trading, a decline of 94% from the average session volume of 1,635,335 shares. The stock had previously closed at $7.71.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MOMO. Citigroup increased their price target on Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. 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. Bank of America downgraded Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Two 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, the stock has an average rating of “Hold” and a consensus target price of $8.25.

Hello Group Trading Down 3.2 %

The company has a market capitalization of $1.08 billion, a P/E ratio of 7.69, a PEG ratio of 2.40 and a beta of 0.51. The stock has a 50 day moving average price of $7.06 and a 200 day moving average price of $6.81.

Institutional Investors Weigh In On Hello Group

Several hedge funds have recently added to or reduced their stakes in MOMO. First Beijing Investment Ltd bought a new position in shares of Hello Group during the third quarter valued at $30,773,000. Dimensional Fund Advisors LP increased its holdings in Hello Group by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after purchasing an additional 633,746 shares during the period. BRIGHT VALLEY CAPITAL Ltd bought a new position in Hello Group during the 2nd quarter worth $22,553,000. American Century Companies Inc. lifted its holdings in Hello Group by 22.6% during the 2nd quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock worth $4,417,000 after buying an additional 133,113 shares during the period. Finally, Caxton Associates LP bought a new stake in shares of Hello Group in the 2nd quarter valued at about $2,628,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

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.