Hello Group (NASDAQ:MOMO) Hits New 1-Year Low – Should You Sell?

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $4.84 and last traded at $4.8750, with a volume of 140986 shares. The stock had previously closed at $4.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MOMO shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hello Group in a report on Monday, August 3rd. Benchmark reissued a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. Wall Street Zen downgraded Hello Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Finally, UBS Group set a $10.00 target price on Hello Group in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.05.

Hello Group Trading Down 0.5%

The company has a market cap of $524.40 million, a P/E ratio of 4.96 and a beta of 0.45. The company’s fifty day moving average is $5.53 and its 200 day moving average is $5.81.

Hello Group (NASDAQ:MOMO) last posted its quarterly earnings results on Thursday, September 3rd. The information services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Hello Group had a net margin of 11.02% and a return on equity of 10.43%. The business had revenue of $365.91 million during the quarter, compared to the consensus estimate of $363.62 million. During the same period in the previous year, the firm posted ($0.58) earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis.

Institutional Investors Weigh In On Hello Group

A number of hedge funds and other institutional investors have recently modified their holdings of MOMO. Athos Capital Ltd bought a new stake in shares of Hello Group in the 4th quarter valued at about $47,359,000. Dimensional Fund Advisors LP grew its position in Hello Group by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,408,461 shares of the information services provider’s stock worth $13,868,000 after acquiring an additional 37,306 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Hello Group during the 2nd quarter worth approximately $6,176,000. Public Employees Retirement System of Ohio purchased a new position in Hello Group in the 2nd quarter worth approximately $1,087,000. Finally, Wellington Management Group LLP increased its stake in Hello Group by 92.9% in the 2nd quarter. Wellington Management Group LLP now owns 161,492 shares of the information services provider’s stock worth $937,000 after purchasing an additional 77,773 shares during the period. Institutional investors own 50.96% of the company’s stock.

About Hello Group

Hello Group Inc, formerly known as Momo Inc, is a Chinese social networking and entertainment company. Founded in 2011, the company operates mobile applications that help users discover, connect and interact with one another through messaging, interest-based communities, live streaming and other digital services.

Its flagship Momo platform provides social networking features, including user profiles, messaging, livestreaming, short-form video and virtual gifting. Hello Group also operates Tantan, a dating and social discovery application acquired in 2018.