Hello Group (NASDAQ:MOMO) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.22 and traded as low as $6.06. Hello Group shares last traded at $6.06, with a volume of 498,060 shares traded.

Analyst Ratings Changes

A number of research firms recently commented on MOMO. Weiss Ratings cut 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 objective on shares of Hello Group in a report on Thursday, June 4th. Finally, Benchmark reaffirmed a “buy” rating on shares of Hello Group in a research note on Thursday, June 4th. One equities 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.05.

Hello Group Trading Down 0.3%

The firm’s 50-day moving average price is $5.88 and its 200-day moving average price is $6.22. The stock has a market capitalization of $651.87 million, a PE ratio of 9.47 and a beta of 0.45.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in shares of Hello Group by 23.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,194,428 shares of the information services provider’s stock worth $7,824,000 after purchasing an additional 226,637 shares during the period. JPMorgan Chase & Co. boosted its position in Hello Group by 142.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 767,326 shares of the information services provider’s stock valued at $5,694,000 after buying an additional 451,408 shares during the period. Athos Capital Ltd purchased a new stake in shares of Hello Group in the fourth quarter valued at approximately $47,359,000. LSV Asset Management grew its position in shares of Hello Group by 21.3% during the 4th quarter. LSV Asset Management now owns 3,565,971 shares of the information services provider’s stock worth $23,357,000 after buying an additional 626,152 shares in the last quarter. Finally, BRIGHT VALLEY CAPITAL Ltd purchased a new position in Hello Group during the 4th quarter valued at about $135,000. 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.