Hello Group (NASDAQ:MOMO) Shares Down 5%

Shares of Hello Group Inc. (NASDAQ:MOMO) fell 5% on Tuesday . The stock traded as low as $6.49 and last traded at $6.50. 192,259 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,935,023 shares. The stock had previously closed at $6.84.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MOMO. JPMorgan Chase & Co. cut Hello Group from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $13.00 to $6.00 in a research note on Monday, June 3rd. Benchmark dropped their price target on Hello Group from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Citigroup dropped their price target on Hello Group from $6.40 to $5.70 and set a “neutral” rating on the stock in a report on Wednesday, May 29th. Finally, Morgan Stanley lowered Hello Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.90.

Hello Group Stock Performance

The stock has a market capitalization of $904.18 million, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 1.93 and a beta of 0.51. The company has a 50 day simple moving average of $6.00 and a 200-day simple moving average of $6.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.36 and a quick ratio of 2.36.

Hello Group (NASDAQ:MOMO) last issued its earnings results on Tuesday, May 28th. The information services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.48 billion. Hello Group had a return on equity of 13.61% and a net margin of 13.38%. The business’s revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. On average, equities analysts forecast that Hello Group Inc. will post 0.75 EPS for the current year.

Institutional Trading of Hello Group

Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Hello Group in the fourth quarter valued at $28,000. Platinum Investment Management Ltd. raised its stake in shares of Hello Group by 110.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock valued at $56,000 after purchasing an additional 4,700 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Hello Group by 10,987.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,311 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 10,218 shares during the period. Kathmere Capital Management LLC bought a new stake in shares of Hello Group during the 2nd quarter valued at $74,000. Finally, D Orazio & Associates Inc. bought a new stake in shares of Hello Group during the 4th quarter valued at $79,000. 50.96% of the stock is currently owned by institutional investors.

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.