Hello Group (NASDAQ:MOMO) Rating Lowered to “Hold” at Wall Street Zen

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

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

Hello Group Stock Performance

Shares of Hello Group stock opened at $5.88 on Friday. Hello Group has a 12-month low of $5.32 and a 12-month high of $8.59. The stock has a market cap of $632.51 million, a PE ratio of 9.19 and a beta of 0.45. The company has a 50-day moving average of $5.83 and a two-hundred day moving average of $6.17.

Institutional Investors Weigh In On Hello Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ramsey Quantitative Systems acquired a new stake in Hello Group during the 2nd quarter valued at $26,000. Assenagon Asset Management S.A. purchased a new stake in shares of Hello Group in the second quarter valued at $6,176,000. EverSource Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 3,170 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Hello Group by 3.2% during the first quarter. Cetera Investment Advisers now owns 67,726 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 2,096 shares during the last quarter. Finally, ABN Amro Investment Solutions boosted its stake in shares of Hello Group by 45.6% during the first quarter. ABN Amro Investment Solutions now owns 38,300 shares of the information services provider’s stock valued at $221,000 after acquiring an additional 12,000 shares during the last quarter. Hedge funds and other institutional investors 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.