Hello Group (NASDAQ:MOMO) Shares Gap Up – Still a Buy?

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) gapped up before the market opened on Wednesday . The stock had previously closed at $6.00, but opened at $6.25. Hello Group shares last traded at $6.3950, with a volume of 226,730 shares traded.

Wall Street Analyst Weigh In

MOMO has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Hello Group in a report on Monday, December 22nd. Jefferies Financial Group set a $8.10 target price on shares of Hello Group in a report on Wednesday, December 10th. Finally, Zacks Research upgraded shares of Hello Group from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.10.

Hello Group Trading Down 1.0%

The company has a 50 day moving average of $6.56 and a 200-day moving average of $6.89. The firm has a market capitalization of $737.02 million, a P/E ratio of 9.22 and a beta of 0.35.

Institutional Investors Weigh In On Hello Group

Institutional investors have recently modified their holdings of the business. Thrivent Financial for Lutherans bought a new position in Hello Group during the third quarter worth about $3,366,000. Y Intercept Hong Kong Ltd bought a new stake in Hello Group in the 3rd quarter valued at about $2,069,000. LSV Asset Management grew its position in shares of Hello Group by 6.3% during the 3rd quarter. LSV Asset Management now owns 2,939,819 shares of the information services provider’s stock worth $21,813,000 after purchasing an additional 173,424 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Hello Group during the 2nd quarter worth approximately $4,017,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Hello Group by 406.6% during the third quarter. Assenagon Asset Management S.A. now owns 967,791 shares of the information services provider’s stock worth $7,181,000 after purchasing an additional 776,770 shares during the period. 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.