Hello Group Inc. (NASDAQ:MOMO – Get Rating) saw unusually large options trading activity on Thursday. Stock traders acquired 11,532 call options on the stock. This is an increase of approximately 957% compared to the average daily volume of 1,091 call options.
Hello Group Trading Up 31.5 %
Hello Group stock opened at $8.93 on Friday. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $5.19 and a two-hundred day moving average price of $5.06. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.45 and a beta of 1.12. Hello Group has a 52-week low of $4.09 and a 52-week high of $10.95.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on MOMO shares. Citigroup boosted their target price on shares of Hello Group from $5.80 to $7.00 in a research report on Friday. StockNews.com assumed coverage on shares of Hello Group in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Morgan Stanley raised shares of Hello Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $5.00 to $9.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Hello Group currently has an average rating of “Moderate Buy” and an average target price of $10.75.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of MOMO. Bank of New York Mellon Corp lifted its stake in shares of Hello Group by 3.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 121,829 shares of the information services provider’s stock worth $563,000 after acquiring an additional 3,632 shares during the period. BNP Paribas Arbitrage SNC acquired a new stake in shares of Hello Group in the 3rd quarter worth approximately $2,488,000. Mercer Global Advisors Inc. ADV lifted its stake in shares of Hello Group by 18.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 35,132 shares of the information services provider’s stock worth $162,000 after acquiring an additional 5,370 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Hello Group by 17.6% in the 3rd quarter. Two Sigma Advisers LP now owns 202,900 shares of the information services provider’s stock worth $937,000 after purchasing an additional 30,400 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Hello Group by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,542,924 shares of the information services provider’s stock worth $25,609,000 after purchasing an additional 61,138 shares in the last quarter. 61.84% of the stock is owned by institutional investors and hedge funds.
Hello Group Company Profile
Hello Group Inc provides mobile-based social and entertainment services in the People’s Republic of China. It operates Momo platform that includes its Momo mobile application, as well as various related properties, features, functionalities, tools, and services. The company’s Momo mobile application connects people and facilitates interactions based on location and interests; and various recreational activities, including live talent shows, short videos, and social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke, and user participated reality shows.