Hello Group (NASDAQ:MOMO) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.24 and traded as low as $5.79. Hello Group shares last traded at $5.87, with a volume of 493,472 shares.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MOMO shares. Benchmark reissued a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. Weiss Ratings downgraded Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Finally, UBS Group set a $10.00 price target on Hello Group in a research report on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.05.

Hello Group Trading Down 1.5%

The stock has a market cap of $631.44 million, a price-to-earnings ratio of 9.17 and a beta of 0.45. The stock’s 50 day moving average is $5.90 and its two-hundred day moving average is $6.24.

Institutional Investors Weigh In On Hello Group

Several hedge funds have recently made changes to their positions in MOMO. EverSource Wealth Advisors LLC grew its holdings in shares of Hello Group by 249.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock worth $26,000 after buying an additional 3,170 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Hello Group in the 2nd quarter valued at about $41,000. Quarry LP purchased a new stake in Hello Group during the 3rd quarter valued at approximately $65,000. Barclays PLC raised its stake in Hello Group by 696.8% during the 4th quarter. Barclays PLC now owns 10,000 shares of the information services provider’s stock valued at $66,000 after acquiring an additional 8,745 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Hello Group during the 3rd quarter worth approximately $88,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

About Hello Group

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.