Hello Group (NASDAQ:MOMO) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Hello Group (NASDAQ:MOMO – Get Rating) in a research report released on Thursday. The brokerage issued a buy rating on the information services provider’s stock.

Several other equities research analysts have also commented on MOMO. Citigroup boosted their price target on Hello Group from $5.80 to $7.00 in a research note on Friday, December 9th. Morgan Stanley lowered Hello Group from an overweight rating to an equal weight rating and boosted their price target for the stock from $9.00 to $12.00 in a research note on Thursday, February 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Hello Group presently has a consensus rating of Moderate Buy and an average price target of $13.00.

Hello Group Trading Up 2.6 %

Shares of MOMO opened at $7.91 on Thursday. Hello Group has a twelve month low of $4.09 and a twelve month high of $11.54. The stock’s 50 day moving average is $9.74 and its two-hundred day moving average is $7.25. The firm has a market capitalization of $1.25 billion, a PE ratio of 7.26 and a beta of 0.87.

Institutional Trading of Hello Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Hello Group during the 1st quarter worth $32,000. OLD Mission Capital LLC acquired a new stake in Hello Group during the fourth quarter worth about $37,000. US Bancorp DE raised its stake in Hello Group by 49.6% during the first quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock worth $49,000 after acquiring an additional 2,819 shares during the period. Creative Planning acquired a new stake in Hello Group during the second quarter worth about $52,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Hello Group by 206.9% in the second quarter. Quadrant Capital Group LLC now owns 11,965 shares of the information services provider’s stock valued at $60,000 after purchasing an additional 8,066 shares during the period. 60.15% of the stock is currently owned by institutional investors and hedge funds.

About Hello Group

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Hello Group, Inc operates as a mobile-based social networking platform. It operates under the following segments: Momo’s service lines, Tantan’s service lines, and QOOL’s service line. The company was founded by Yan Tang, Yong Li, Xiao Liang Lei and Zhiwei Li in July 2011 and is headquartered in Beijing, China.