Hello Group (NASDAQ:MOMO) Shares Gap Down – Here’s What Happened

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.98, but opened at $6.75. Hello Group shares last traded at $6.7250, with a volume of 564,477 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MOMO shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Hello Group in a research note on Monday. Zacks Research downgraded shares of Hello Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 16th. Finally, Wall Street Zen cut shares of Hello Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.00.

Hello Group Stock Performance

The company has a market capitalization of $807.99 million, a PE ratio of 7.61 and a beta of 0.31. The stock’s fifty day simple moving average is $6.98 and its 200-day simple moving average is $7.65.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MOMO. US Bancorp DE lifted its stake in shares of Hello Group by 3.9% during the 1st quarter. US Bancorp DE now owns 78,397 shares of the information services provider’s stock worth $495,000 after purchasing an additional 2,978 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in Hello Group in the first quarter valued at $1,519,000. National Bank of Canada FI purchased a new position in Hello Group during the first quarter worth about $1,230,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hello Group by 642.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 189,576 shares of the information services provider’s stock worth $1,196,000 after buying an additional 164,040 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Hello Group in the 1st quarter valued at about $85,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

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.