Hello Group Sees Unusually Large Options Volume (NASDAQ:MOMO)

Hello Group Inc. (NASDAQ:MOMO) was the target of some unusual options trading on Wednesday. Stock traders acquired 6,718 call options on the company. This represents an increase of approximately 392% compared to the average daily volume of 1,366 call options.

Institutional Investors Weigh In On Hello Group

Large investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in Hello Group by 472.1% during the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after acquiring an additional 3,196 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Hello Group during the 3rd quarter worth approximately $322,000. First Beijing Investment Ltd bought a new position in shares of Hello Group during the 3rd quarter worth approximately $30,773,000. KBC Group NV grew its position in shares of Hello Group by 439.6% in the third quarter. KBC Group NV now owns 67,412 shares of the information services provider’s stock valued at $513,000 after purchasing an additional 54,920 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in shares of Hello Group in the third quarter valued at about $185,000. 50.96% of the stock is currently owned by institutional investors.

Hello Group Stock Performance

Shares of MOMO stock traded down $0.03 during trading on Wednesday, hitting $7.87. 417,627 shares of the company were exchanged, compared to its average volume of 968,271. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 2.07 and a beta of 0.47. Hello Group has a twelve month low of $4.79 and a twelve month high of $8.38. The business’s 50-day simple moving average is $7.37 and its 200 day simple moving average is $7.07.

Wall Street Analysts Forecast Growth

MOMO has been the topic of a number of research analyst reports. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Citigroup lifted their target price on Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a report 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 given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.25.

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.