Hello Group (NASDAQ:MOMO) Hits New 52-Week Low – Here’s Why

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) reached a new 52-week low on Tuesday. The company traded as low as $4.84 and last traded at $4.8750, with a volume of 140986 shares changing hands. The stock had previously closed at $4.90.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MOMO shares. Benchmark reissued a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. Wall Street Zen lowered shares of Hello Group from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. UBS Group set a $10.00 target price on shares of Hello Group in a research note on Thursday, June 4th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Hello Group in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.05.

Hello Group Stock Performance

The business has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $5.81. The firm has a market capitalization of $524.40 million, a P/E ratio of 4.96 and a beta of 0.45.

Hello Group (NASDAQ:MOMO) last issued its quarterly earnings results on Thursday, September 3rd. The information services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Hello Group had a return on equity of 10.43% and a net margin of 11.02%.The firm had revenue of $365.91 million during the quarter, compared to the consensus estimate of $363.62 million. During the same quarter last year, the company posted ($0.58) EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis.

Hedge Funds Weigh In On Hello Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MOMO. Athos Capital Ltd bought a new position in shares of Hello Group in the 4th quarter worth $47,359,000. Dimensional Fund Advisors LP grew its position in Hello Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,408,461 shares of the information services provider’s stock worth $13,868,000 after acquiring an additional 37,306 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Hello Group in the second quarter worth $6,176,000. Public Employees Retirement System of Ohio bought a new position in Hello Group in the second quarter valued at $1,087,000. Finally, Wellington Management Group LLP increased its stake in Hello Group by 92.9% in the second quarter. Wellington Management Group LLP now owns 161,492 shares of the information services provider’s stock valued at $937,000 after acquiring an additional 77,773 shares during the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

About Hello Group

Hello Group Inc, formerly known as Momo Inc, is a Chinese social networking and entertainment company. Founded in 2011, the company operates mobile applications that help users discover, connect and interact with one another through messaging, interest-based communities, live streaming and other digital services.

Its flagship Momo platform provides social networking features, including user profiles, messaging, livestreaming, short-form video and virtual gifting. Hello Group also operates Tantan, a dating and social discovery application acquired in 2018.