Hello Group (NASDAQ:MOMO) Shares Gap Up – Should You Buy?

Hello Group Inc. (NASDAQ:MOMO) shares gapped up before the market opened on Monday . The stock had previously closed at $6.77, but opened at $7.31. Hello Group shares last traded at $7.58, with a volume of 989,834 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MOMO. Bank of America downgraded Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. 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. StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Benchmark decreased their price objective on Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Jefferies Financial Group boosted their price objective on Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.25.

Hello Group Price Performance

The company has a fifty day moving average of $6.97 and a 200-day moving average of $6.59. The firm has a market cap of $1.10 billion, a P/E ratio of 7.57, a P/E/G ratio of 2.07 and a beta of 0.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.55 and a quick ratio of 2.55.

Institutional Investors Weigh In On Hello Group

Several institutional investors have recently bought and sold shares of the stock. First Beijing Investment Ltd bought a new stake in Hello Group during the third quarter worth $30,773,000. Dimensional Fund Advisors LP grew its holdings in Hello Group by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock worth $22,736,000 after buying an additional 633,746 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd bought a new stake in Hello Group during the second quarter worth $22,553,000. Polunin Capital Partners Ltd bought a new stake in Hello Group during the second quarter worth $4,566,000. Finally, American Century Companies Inc. grew its stake in Hello Group by 22.6% in the 2nd quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock valued at $4,417,000 after purchasing an additional 133,113 shares during the period. Institutional investors own 50.96% of the company’s stock.

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.