Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) Short Interest Up 28.2% in January

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) was the target of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 3,319,840 shares, a growth of 28.2% from the January 15th total of 2,590,513 shares. Based on an average trading volume of 1,074,527 shares, the days-to-cover ratio is presently 3.1 days. Currently, 7.2% of the company’s stock are sold short. Currently, 7.2% of the company’s stock are sold short. Based on an average trading volume of 1,074,527 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MOMO. Thrivent Financial for Lutherans acquired a new position in Hello Group in the 3rd quarter valued at about $3,366,000. Y Intercept Hong Kong Ltd acquired a new stake in Hello Group in the third quarter valued at $2,069,000. Jupiter Asset Management Ltd. lifted its holdings in Hello Group by 98.1% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 828,200 shares of the information services provider’s stock valued at $6,990,000 after purchasing an additional 410,200 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Hello Group in the 2nd quarter valued at about $4,017,000. Finally, Assenagon Asset Management S.A. raised its position in Hello Group by 406.6% in the third quarter. Assenagon Asset Management S.A. now owns 967,791 shares of the information services provider’s stock valued at $7,181,000 after purchasing an additional 776,770 shares during the period. 50.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MOMO. Jefferies Financial Group set a $8.10 price target on shares of Hello Group in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hello Group in a research note on Monday, December 22nd. Finally, Zacks Research upgraded shares of Hello Group from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Hello Group currently has an average rating of “Hold” and an average target price of $10.55.

Hello Group Price Performance

Shares of MOMO stock traded down $0.05 during trading hours on Monday, hitting $6.48. The company had a trading volume of 756,635 shares, compared to its average volume of 940,874. Hello Group has a fifty-two week low of $5.12 and a fifty-two week high of $9.22. The company’s fifty day moving average is $6.71 and its 200 day moving average is $7.18. The stock has a market capitalization of $772.80 million, a PE ratio of 7.81 and a beta of 0.34.

Hello Group (NASDAQ:MOMO) last released its quarterly earnings results on Wednesday, December 10th. The information services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $372.16 million during the quarter, compared to analyst estimates of $362.80 million. Hello Group had a return on equity of 10.07% and a net margin of 5.96%.The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business posted $2.70 earnings per share. Equities analysts forecast that Hello Group will post 0.73 earnings per share for the current year.

Hello Group Company Profile

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.