Hello Group (NASDAQ:MOMO) Stock Price Down 2.6% – Time to Sell?

Hello Group Inc. (NASDAQ:MOMO)’s stock price dropped 2.6% during mid-day trading on Thursday . The company traded as low as $7.45 and last traded at $7.51. Approximately 101,823 shares changed hands during trading, a decline of 94% from the average daily volume of 1,635,335 shares. The stock had previously closed at $7.71.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Citigroup raised their target price on Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Bank of America downgraded Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.25.

Hello Group Trading Down 2.8 %

The stock has a 50 day moving average of $7.08 and a 200-day moving average of $6.82. The company has a market capitalization of $1.04 billion, a P/E ratio of 7.40, a P/E/G ratio of 2.40 and a beta of 0.48.

Institutional Investors Weigh In On Hello Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOMO. First Beijing Investment Ltd bought a new position in shares of Hello Group during the third quarter valued at approximately $30,773,000. BRIGHT VALLEY CAPITAL Ltd bought a new stake in Hello Group during the 2nd quarter valued at $22,553,000. Dimensional Fund Advisors LP increased its holdings in shares of Hello Group by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after acquiring an additional 633,746 shares during the period. Caxton Associates LP bought a new position in shares of Hello Group in the 2nd quarter worth $2,628,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Hello Group during the 3rd quarter worth $1,013,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

About Hello Group

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.