Hello Group (NASDAQ:MOMO) Shares Gap Up – Here’s What Happened

Hello Group Inc. (NASDAQ:MOMO) 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 traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Bank of America lowered Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Finally, Benchmark lowered their price target on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hello Group presently has an average rating of “Hold” and a consensus price target of $7.93.

Hello Group Trading Up 10.2 %

The company has a market capitalization of $1.08 billion, a PE ratio of 7.58, a PEG ratio of 2.07 and a beta of 0.51. The company has a fifty day simple moving average of $6.98 and a 200-day simple moving average of $6.57. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake 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 in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Hello Group during the 2nd quarter worth approximately $68,000. Kathmere Capital Management LLC acquired a new stake in Hello Group during the 2nd quarter worth approximately $74,000. Vanguard Personalized Indexing Management LLC purchased a new position in Hello Group in the 2nd quarter valued at approximately $87,000. Finally, SG Americas Securities LLC acquired a new position in shares of Hello Group in the third quarter worth $125,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

About Hello Group

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.