Hello Group (NASDAQ:MOMO) Sets New 12-Month High – Time to Buy?

Shares of Hello Group Inc. (NASDAQ:MOMO) reached a new 52-week high during trading on Friday . The company traded as high as $8.30 and last traded at $7.97, with a volume of 587400 shares. The stock had previously closed at $7.83.

Analyst Ratings Changes

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

Hello Group Price Performance

The stock has a market cap of $1.15 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 1.89 and a beta of 0.47. The business has a fifty day moving average of $7.33 and a 200-day moving average of $7.00.

Institutional Investors Weigh In On Hello Group

Several hedge funds have recently made changes to their positions in the company. First Beijing Investment Ltd bought a new stake in shares of Hello Group in the third quarter valued at about $30,773,000. Norges Bank purchased a new position in Hello Group during the 4th quarter valued at about $10,765,000. Assenagon Asset Management S.A. bought a new stake in shares of Hello Group in the 4th quarter valued at about $8,616,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Hello Group in the 4th quarter worth approximately $1,789,000. Finally, Jump Financial LLC bought a new position in shares of Hello Group during the fourth quarter valued at approximately $1,124,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Hello Group Company Profile

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.