StockNews.com Upgrades Hello Group (NASDAQ:MOMO) to Buy

Hello Group (NASDAQ:MOMO) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

MOMO has been the topic of several other reports. Citigroup boosted their target price on Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Benchmark restated a “buy” rating and issued a $13.00 price objective on shares of Hello Group in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Hello Group has a consensus rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Performance

NASDAQ:MOMO opened at $6.57 on Tuesday. Hello Group has a 12 month low of $4.79 and a 12 month high of $8.38. The firm’s 50 day moving average is $7.35 and its 200 day moving average is $7.13. The stock has a market capitalization of $951.99 million, a PE ratio of 6.77, a price-to-earnings-growth ratio of 2.07 and a beta of 0.44.

Hedge Funds Weigh In On Hello Group

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Hello Group during the 4th quarter worth about $10,765,000. Assenagon Asset Management S.A. bought a new stake in shares of Hello Group during the fourth quarter valued at about $8,616,000. BNP Paribas Financial Markets purchased a new stake in shares of Hello Group in the fourth quarter worth about $4,535,000. O Shaughnessy Asset Management LLC bought a new position in shares of Hello Group in the fourth quarter valued at approximately $1,789,000. Finally, Millennium Management LLC grew its stake in Hello Group by 1,590.1% during the fourth quarter. Millennium Management LLC now owns 174,536 shares of the information services provider’s stock valued at $1,346,000 after acquiring an additional 164,209 shares in the last quarter. 50.96% of the stock is currently owned by hedge funds and other 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.