Hello Group Sees Unusually Large Options Volume (NASDAQ:MOMO)

Hello Group Inc. (NASDAQ:MOMO) was the recipient of unusually large options trading on Wednesday. Investors purchased 8,207 call options on the stock. This is an increase of 861% compared to the typical volume of 854 call options.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MOMO shares. Bank of America downgraded Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Citigroup lifted their price objective on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hello Group currently has an average rating of “Hold” and a consensus target price of $8.25.

Hello Group Price Performance

Shares of MOMO traded down $0.15 during mid-day trading on Wednesday, reaching $7.29. The company had a trading volume of 197,902 shares, compared to its average volume of 798,030. The company’s 50-day moving average is $7.11 and its 200-day moving average is $6.93. The company has a market capitalization of $1.06 billion, a P/E ratio of 7.51, a P/E/G ratio of 1.85 and a beta of 0.48. Hello Group has a twelve month low of $4.79 and a twelve month high of $8.19.

Institutional Trading of Hello Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Beijing Investment Ltd acquired a new position in Hello Group in the third quarter valued at about $30,773,000. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in shares of Hello Group during the second quarter worth about $22,553,000. Assenagon Asset Management S.A. acquired a new position in shares of Hello Group in the 4th quarter valued at approximately $8,616,000. Dimensional Fund Advisors LP raised its holdings in Hello Group by 20.6% during the 2nd 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 during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Hello Group in the third quarter valued at approximately $1,013,000. 50.96% of the stock is owned by institutional investors.

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.