Hello Group (NASDAQ:MOMO) Shares Gap Up – Time to Buy?

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 trading hands.

Wall Street Analysts Forecast Growth

MOMO has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Benchmark cut their target price on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Bank of America lowered shares of Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. 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 research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.93.

Hello Group Stock Up 10.2 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.55 and a current ratio of 2.55. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 2.07 and a beta of 0.51. The business’s 50 day moving average is $6.98 and its 200 day moving average is $6.57.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MOMO. BRIGHT VALLEY CAPITAL Ltd purchased a new position in Hello Group during the 2nd quarter worth approximately $22,553,000. Dimensional Fund Advisors LP lifted its position in Hello Group by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after purchasing an additional 633,746 shares during the period. Blue Trust Inc. boosted its holdings in Hello Group by 472.1% in the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 3,196 shares during the last quarter. American Century Companies Inc. grew its position in Hello Group by 22.6% during the 2nd quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock worth $4,417,000 after purchasing an additional 133,113 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of Hello Group during the 2nd quarter valued at about $2,628,000. 50.96% of the stock is owned by institutional investors and hedge funds.

Hello Group Company Profile

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.