Hello Group (NASDAQ:MOMO) Shares Gap Down – What’s Next?

by · The Cerbat Gem

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO – Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $6.98, but opened at $6.75. Hello Group shares last traded at $6.7250, with a volume of 564,477 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Hello Group from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Jefferies Financial Group set a $8.10 price target on shares of Hello Group in a research note on Wednesday. Zacks Research cut shares of Hello Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hello Group in a report on Monday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Hello Group currently has a consensus rating of “Hold” and a consensus price target of $10.55.

Check Out Our Latest Stock Analysis on MOMO

Hello Group Stock Up 1.1%

The stock has a market cap of $805.60 million, a PE ratio of 8.14 and a beta of 0.31. The business’s 50-day simple moving average is $6.94 and its 200-day simple moving average is $7.64.

Institutional Investors Weigh In On Hello Group

A number of large investors have recently made changes to their positions in MOMO. Charles Schwab Investment Management Inc. purchased a new stake in Hello Group in the first quarter worth $1,519,000. National Bank of Canada FI bought a new position in Hello Group in the 1st quarter worth $1,230,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Hello Group by 642.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 189,576 shares of the information services provider’s stock worth $1,196,000 after purchasing an additional 164,040 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Hello Group in the 1st quarter worth about $85,000. Finally, Nuveen LLC bought a new stake in shares of Hello Group during the 1st quarter valued at about $793,000. 50.96% of the stock is currently owned by institutional investors.

About Hello Group

(Get Free Report)

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.

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