Hello Group (NASDAQ:MOMO) Lowered to Hold Rating by Wall Street Zen

Hello Group (NASDAQ:MOMO) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other analysts have also recently weighed in on MOMO. Weiss Ratings cut shares of Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. UBS Group set a $10.00 price target on shares of Hello Group in a report on Thursday, June 4th. Finally, Benchmark reissued a “buy” rating 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 issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.05.

Hello Group Stock Performance

Shares of MOMO opened at $5.88 on Friday. Hello Group has a 1 year low of $5.32 and a 1 year high of $8.59. The stock has a market capitalization of $632.48 million, a PE ratio of 9.19 and a beta of 0.45. The stock has a 50-day simple moving average of $5.84 and a 200-day simple moving average of $6.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MOMO. EverSource Wealth Advisors LLC raised its position in shares of Hello Group by 249.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock worth $26,000 after acquiring an additional 3,170 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in Hello Group in the second quarter valued at approximately $26,000. Raymond James Financial Inc. acquired a new position in Hello Group in the second quarter valued at approximately $41,000. Quarry LP acquired a new position in Hello Group in the third quarter valued at approximately $65,000. Finally, Barclays PLC increased its stake in Hello Group by 696.8% in the fourth quarter. Barclays PLC now owns 10,000 shares of the information services provider’s stock valued at $66,000 after purchasing an additional 8,745 shares during the last quarter. 50.96% of the stock is owned by institutional investors and hedge funds.

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.