Hello Group (NASDAQ:MOMO) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Hello Group (NASDAQ:MOMO) from a buy rating to a hold rating in a report released on Sunday.

Several other equities research analysts have also issued reports on MOMO. UBS Group set a $10.00 price target on Hello Group in a research report on Thursday, June 4th. Benchmark reaffirmed a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. Finally, Weiss Ratings lowered shares of Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.05.

Hello Group Price Performance

NASDAQ:MOMO opened at $5.88 on Friday. The business’s 50 day moving average is $5.84 and its two-hundred day moving average is $6.18. Hello Group has a 52 week low of $5.32 and a 52 week high of $8.59. The company has a market cap of $632.51 million, a PE ratio of 9.19 and a beta of 0.45.

Hedge Funds Weigh In On Hello Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its position in shares of Hello Group by 23.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,194,428 shares of the information services provider’s stock worth $7,824,000 after purchasing an additional 226,637 shares during the period. JPMorgan Chase & Co. boosted its position in Hello Group by 142.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 767,326 shares of the information services provider’s stock valued at $5,694,000 after purchasing an additional 451,408 shares during the period. Athos Capital Ltd acquired a new position in Hello Group during the 4th quarter valued at approximately $47,359,000. LSV Asset Management boosted its position in Hello Group by 21.3% during the 4th quarter. LSV Asset Management now owns 3,565,971 shares of the information services provider’s stock valued at $23,357,000 after purchasing an additional 626,152 shares during the period. Finally, BRIGHT VALLEY CAPITAL Ltd bought a new position in Hello Group during the 4th quarter worth $135,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

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.