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

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.10 and traded as low as $5.81. Hello Group shares last traded at $5.83, with a volume of 463,047 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MOMO shares. Wall Street Zen cut shares of Hello Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Benchmark reiterated a “buy” rating on shares of Hello Group in a research note on Thursday, June 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hello Group in a report on Monday, August 3rd. Finally, UBS Group set a $10.00 price objective on Hello Group in a research report on Thursday, June 4th. One 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. Based on data from MarketBeat.com, Hello Group has a consensus rating of “Hold” and a consensus target price of $9.05.

Hello Group Stock Down 2.0%

The company has a market cap of $618.50 million, a P/E ratio of 8.98 and a beta of 0.47. The firm’s 50 day moving average is $5.81 and its two-hundred day moving average is $6.09.

Institutional Investors Weigh In On Hello Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp raised its stake in shares of Hello Group by 13.3% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,000 shares of the information services provider’s stock worth $111,000 after purchasing an additional 2,000 shares during the last quarter. Cetera Investment Advisers raised its position in Hello Group by 3.2% in the 1st quarter. Cetera Investment Advisers now owns 67,726 shares of the information services provider’s stock valued at $390,000 after buying an additional 2,096 shares during the last quarter. ABN Amro Investment Solutions lifted its stake in Hello Group by 9.6% during the 4th quarter. ABN Amro Investment Solutions now owns 26,300 shares of the information services provider’s stock valued at $172,000 after acquiring an additional 2,300 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Hello Group by 12.1% during the 1st quarter. QRG Capital Management Inc. now owns 21,964 shares of the information services provider’s stock worth $127,000 after acquiring an additional 2,372 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Hello Group by 249.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock worth $26,000 after acquiring an additional 3,170 shares in the last quarter. Institutional investors and hedge funds 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.