The Attractiveness of Investing In Hello Group Inc. (MOMO) is Growing

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In the meantime, Morgan Stanley upgraded its Hello Group Inc. [MOMO] rating to an Overweight from a an Equal-weight in a research note published on Tuesday, December 09, 2022; the price target was increased to $9 from $5. PT values the company’s stock at a premium of -15.0 to its Tuesday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in mid March from “an Overweight” to “a Neutral”. Citigroup also remained covering MOMO and has decreased its forecast on December 01, 2021 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley revised its rating on September 20, 2021. It rated MOMO as “an Equal-weight” which previously was an “an Underweight”.


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Price Performance Review of MOMO

On Tuesday, Hello Group Inc. [NASDAQ:MOMO] saw its stock jump 0.68% to $10.35. On the same session, the stock had its day’s lowest price of $10.051, but rose to a high of $10.36. Over the last five days, the stock has gained 1.27%. Hello Group Inc. shares have risen nearly 15.26% since the year began. Nevertheless, the stocks have risen 28.36% over the past one year. While a 52-week high of $10.97 was reached on 01/17/23, a 52-week low of $3.96 was recorded on 01/05/23. SMA at 50 days reached $7.78, while 200 days put it at $5.66. A total of 1.84 million shares were traded, compared to the trading of 2.14 million shares in the previous session.

Levels Of Support And Resistance For MOMO Stock

The 24-hour chart illustrates a support level at 10.15, which if violated will result in even more drops to 9.94. On the upside, there is a resistance level at 10.46. A further resistance level may holdings at 10.56. The Relative Strength Index (RSI) on the 14-day chart is 64.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.64%. Stochastics %K at 65.53% indicates the stock is a holding.

How much short interest is there in Hello Group Inc.?

A steep rise in short interest was recorded in Hello Group Inc. stocks on Oct 13, 2022, dropping by -0.73 million shares to a total of 7.62 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 8.35 million shares. There was a decline of -9.58%, which implies that there is a negative sentiment for the stock.

Hello Group Inc. [MOMO] – Who Are The Largest Shareholders?

In filings from Renaissance Technologies LLC, it is revealed that the company now owns 10,111,698 shares, or roughly 6.63% of the outstanding MOMO shares. In other words, the investor’s shares have fallen by -840,500 from its previous 13-F filing of 10952198.0. Additionally, Invesco Asset Management Ltd. increased 4.15% of its stake after which the total value it holdings stand at $81,122,231, while Alibaba Group Holding Ltd. added 68.69% of its stake to hold $75.74 million in the firm. Over the last quarter, ARGA Investment Management LP purchased 1,951,240 shares of Hello Group Inc., while Numeric Investors LLC bought 485,680 shares. At present, Krane Funds Advisors LLC is holding 5,183,395 shares valued at $46.55 million. Goldman Sachs & Co. LLC owned 4,866,476 shares of the company at the time of its most recent 13F filing, worth $43.7 million.

According to FactSet, Hello Group Inc.’s share price will average $70.56 in the next year, based on opinions of analysts polled by the firm. This is up nearly 508.37 percent from its previous closing price of $10.28. Analysts expect Hello Group Inc. stock to reach the higher price of $139.47, while the lowest price estimate is $48.82. However, 13 analysts have rated MOMO stock as an Overweight in their predictions for 2023.

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