Hello Group (NASDAQ:MOMO) Hits New 12-Month Low – Should You Sell?

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $4.88 and last traded at $4.8850, with a volume of 245904 shares traded. The stock had previously closed at $4.93.

Analysts Set New Price Targets

Several research firms have weighed in on MOMO. Benchmark reiterated a “buy” rating on shares of Hello Group in a research report on Thursday, June 4th. UBS Group set a $10.00 price target on shares of Hello Group in a research report on Thursday, June 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Hello Group in a report on Monday, August 3rd. Finally, Wall Street Zen cut shares of Hello Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.05.

Hello Group Stock Performance

The stock has a market cap of $527.63 million, a PE ratio of 4.99 and a beta of 0.45. The firm has a 50-day moving average price of $5.71 and a 200-day moving average price of $5.88.

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

Institutional Investors Weigh In On Hello Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Athos Capital Ltd purchased a new position in shares of Hello Group in the 4th quarter worth $47,359,000. LSV Asset Management grew its stake in shares of Hello Group by 21.3% during the 4th quarter. LSV Asset Management now owns 3,565,971 shares of the information services provider’s stock valued at $23,357,000 after acquiring an additional 626,152 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 37,306 shares in the last quarter. UBS Group AG raised its holdings in Hello Group by 7.3% during the fourth quarter. UBS Group AG now owns 953,470 shares of the information services provider’s stock valued at $6,245,000 after acquiring an additional 65,277 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Hello Group during the 2nd quarter valued at approximately $6,176,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Hello Group Company Profile

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.