Hello Group (NASDAQ:MOMO) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Hello Group (NASDAQ:MOMO) from a hold rating to a buy rating in a report released on Saturday.

MOMO has been the topic of a number of other research reports. Weiss Ratings lowered shares of Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Benchmark reaffirmed a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. Finally, UBS Group set a $10.00 target price on shares of Hello Group in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.05.

Hello Group Stock Performance

MOMO opened at $6.01 on Friday. The firm has a market cap of $646.50 million, a P/E ratio of 9.39 and a beta of 0.45. The business has a 50 day moving average price of $5.86 and a 200 day moving average price of $6.21. Hello Group has a twelve month low of $5.32 and a twelve month high of $9.11.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Ramsey Quantitative Systems acquired a new position in shares of Hello Group during the second quarter worth approximately $26,000. Assenagon Asset Management S.A. bought a new stake in shares of Hello Group in the second quarter valued at approximately $6,176,000. EverSource Wealth Advisors LLC grew its stake in shares of Hello Group by 249.8% in the first 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 during the last quarter. Cetera Investment Advisers increased its position in Hello Group by 3.2% during the first quarter. Cetera Investment Advisers now owns 67,726 shares of the information services provider’s stock worth $390,000 after acquiring an additional 2,096 shares during the period. Finally, ABN Amro Investment Solutions increased its position in Hello Group by 45.6% during the first quarter. ABN Amro Investment Solutions now owns 38,300 shares of the information services provider’s stock worth $221,000 after acquiring an additional 12,000 shares during the period. 50.96% of the stock is owned by institutional investors.

About Hello Group

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.