Hello Group (NASDAQ:MOMO) Sets New 52-Week Low – Here’s Why

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) shares reached a new 52-week low on Thursday . The stock traded as low as $5.41 and last traded at $5.48, with a volume of 824804 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Benchmark restated a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. UBS Group set a $10.00 price target on shares of Hello Group in a report on Thursday, June 4th. Finally, Weiss Ratings cut shares of Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hello Group has a consensus rating of “Hold” and a consensus target price of $9.05.

Hello Group Price Performance

The firm has a market capitalization of $589.48 million, a price-to-earnings ratio of 8.56 and a beta of 0.46. The business’s fifty day simple moving average is $6.05 and its 200 day simple moving average is $6.39.

Hello Group Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, April 30th. Shareholders of record on Friday, April 10th were paid a $0.28 dividend. This represents a dividend yield of 475.0%. The ex-dividend date of this dividend was Friday, April 10th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MOMO. Goldman Sachs Group Inc. lifted its stake in shares of Hello Group by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock valued at $51,284,000 after buying an additional 546,048 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Hello Group by 4.1% in the second quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider’s stock valued at $2,362,000 after buying an additional 10,944 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Hello Group by 111.0% in the second quarter. JPMorgan Chase & Co. now owns 315,918 shares of the information services provider’s stock valued at $2,666,000 after buying an additional 166,227 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Hello Group by 31.7% in the second quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider’s stock valued at $336,000 after buying an additional 9,597 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Hello Group by 231.1% in the second quarter. Hsbc Holdings PLC now owns 38,864 shares of the information services provider’s stock valued at $329,000 after buying an additional 27,125 shares in the last quarter. 50.96% of the stock is 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.