Hello Group (NASDAQ:MOMO) Upgraded at Wall Street Zen

Hello Group (NASDAQ:MOMO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings lowered shares of Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Benchmark reaffirmed a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. Finally, UBS Group set a $10.00 target price on shares of Hello Group in a research report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.05.

Hello Group Price Performance

Shares of MOMO opened at $6.01 on Friday. Hello Group has a 1 year low of $5.32 and a 1 year high of $9.11. The stock has a 50 day simple moving average of $5.86 and a two-hundred day simple moving average of $6.21. The firm has a market cap of $646.50 million, a P/E ratio of 9.39 and a beta of 0.45.

Hedge Funds Weigh In On Hello Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ramsey Quantitative Systems purchased a new position in Hello Group in the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its position in Hello Group by 249.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 3,170 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Hello Group during the second quarter valued at approximately $41,000. Quarry LP purchased a new stake in shares of Hello Group during the third quarter valued at approximately $65,000. Finally, Barclays PLC grew its holdings in shares of Hello Group by 696.8% in the fourth quarter. Barclays PLC now owns 10,000 shares of the information services provider’s stock worth $66,000 after purchasing an additional 8,745 shares during the last quarter. 50.96% of the stock is currently owned by institutional investors.

Hello Group Company Profile

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.