Hello Group (NASDAQ:MOMO) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.22 and traded as low as $6.06. Hello Group shares last traded at $6.06, with a volume of 498,060 shares changing hands.

Wall Street Analysts Forecast Growth

MOMO has been the topic of several analyst reports. Weiss Ratings lowered shares of Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. UBS Group set a $10.00 price target on shares of Hello Group in a report on Thursday, June 4th. Finally, Benchmark restated a “buy” rating on shares of Hello Group in a research report on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hello Group presently has an average rating of “Hold” and a consensus price target of $9.05.

Hello Group Stock Performance

The company has a market capitalization of $651.87 million, a price-to-earnings ratio of 9.47 and a beta of 0.45. The business’s 50-day simple moving average is $5.88 and its 200-day simple moving average is $6.22.

Institutional Trading of Hello Group

Several hedge funds have recently bought and sold shares of MOMO. Goldman Sachs Group Inc. lifted its position in shares of Hello Group by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock worth $51,284,000 after purchasing an additional 546,048 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Hello Group by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider’s stock worth $2,362,000 after acquiring an additional 10,944 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Hello Group by 111.0% in the second quarter. JPMorgan Chase & Co. now owns 315,918 shares of the information services provider’s stock valued at $2,666,000 after purchasing an additional 166,227 shares during the period. Legal & General Group Plc lifted its position in Hello Group by 31.7% during the second quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider’s stock worth $336,000 after acquiring an additional 9,597 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Hello Group by 231.1% during the 2nd quarter. Hsbc Holdings PLC now owns 38,864 shares of the information services provider’s stock worth $329,000 after purchasing an additional 27,125 shares during the last quarter. 50.96% of the stock is currently owned by institutional investors and hedge funds.

About Hello Group

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.