Hello Group (NASDAQ:MOMO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hello Group (NASDAQ:MOMO) from a hold rating to a buy rating in a research report released on Saturday morning.

MOMO has been the topic of several other 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. UBS Group set a $10.00 price objective on shares of Hello Group in a research report on Thursday, June 4th. Finally, Benchmark restated a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Hello Group presently has an average rating of “Hold” and a consensus target price of $9.05.

Hello Group Stock Down 0.2%

Shares of MOMO opened at $6.00 on Friday. Hello Group has a fifty-two week low of $5.32 and a fifty-two week high of $9.11. The firm’s 50 day moving average price is $5.85 and its 200 day moving average price is $6.20. The company has a market cap of $645.42 million, a P/E ratio of 9.38 and a beta of 0.45.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Ramsey Quantitative Systems acquired a new position in Hello Group during the second quarter worth approximately $26,000. Assenagon Asset Management S.A. purchased a new stake in Hello Group in the second quarter valued at approximately $6,176,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Hello Group by 249.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 3,170 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Hello Group by 3.2% in the first quarter. Cetera Investment Advisers now owns 67,726 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 2,096 shares during the period. Finally, ABN Amro Investment Solutions grew its position in shares of Hello Group by 45.6% during the first quarter. ABN Amro Investment Solutions now owns 38,300 shares of the information services provider’s stock worth $221,000 after acquiring an additional 12,000 shares during the last quarter. Hedge funds and other 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.