Hello Group (NASDAQ:MOMO) Stock Price Down 3.5% – Here’s What Happened

Shares of Hello Group Inc. (NASDAQ:MOMO) were down 3.5% during mid-day trading on Friday . The company traded as low as $6.32 and last traded at $6.33. Approximately 472,046 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,681,096 shares. The stock had previously closed at $6.56.

Wall Street Analyst Weigh In

MOMO has been the subject of several analyst reports. Benchmark decreased their price objective on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. StockNews.com downgraded Hello Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Jefferies Financial Group boosted their price objective on Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Bank of America lowered Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.93.

Hello Group Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.55 and a quick ratio of 2.55. The firm has a fifty day simple moving average of $6.99 and a two-hundred day simple moving average of $6.52. The firm has a market capitalization of $921.56 million, a P/E ratio of 6.36, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54.

Hello Group (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $2.13. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. On average, equities research analysts anticipate that Hello Group Inc. will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hello Group

Several large investors have recently modified their holdings of MOMO. First Beijing Investment Ltd bought a new position in Hello Group in the 3rd quarter worth approximately $30,773,000. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in shares of Hello Group during the second quarter worth $22,553,000. Polunin Capital Partners Ltd bought a new position in shares of Hello Group in the second quarter worth $4,566,000. Dimensional Fund Advisors LP grew its position in shares of Hello Group by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after purchasing an additional 633,746 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in Hello Group during the 2nd quarter worth about $2,628,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

About Hello Group

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.