Hello Group (NASDAQ:MOMO) Upgraded to Buy at StockNews.com

Hello Group (NASDAQ:MOMO) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other equities analysts have also weighed in on MOMO. Benchmark reiterated a “buy” rating and set a $13.00 target price on shares of Hello Group in a research report on Thursday, March 13th. Citigroup raised their price objective on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.25.

Hello Group Price Performance

Shares of NASDAQ MOMO opened at $6.41 on Tuesday. The business’s fifty day moving average price is $7.33 and its 200-day moving average price is $7.13. Hello Group has a one year low of $4.79 and a one year high of $8.38. The stock has a market capitalization of $928.80 million, a PE ratio of 6.61, a P/E/G ratio of 2.07 and a beta of 0.44.

Hedge Funds Weigh In On Hello Group

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Hello Group during the 4th quarter worth approximately $10,765,000. Assenagon Asset Management S.A. purchased a new position in shares of Hello Group during the 4th quarter valued at $8,616,000. BNP Paribas Financial Markets bought a new position in shares of Hello Group in the fourth quarter worth $4,535,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Hello Group in the fourth quarter worth $1,789,000. Finally, Millennium Management LLC boosted its stake in Hello Group by 1,590.1% during the fourth quarter. Millennium Management LLC now owns 174,536 shares of the information services provider’s stock valued at $1,346,000 after buying an additional 164,209 shares during the period. 50.96% of the stock is currently owned by institutional investors.

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.