The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Hello Group Inc ADR shares valued at $1,613,575 were purchased by LI WANG on Sep 26 ’24. At $7.14 per share, LI WANG acquired 226,013 shares.
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Also, LI WANG purchased 130,827 shares, netting a total of over 919,243 in proceeds.
Before that, Wang Li had added 343,160 shares to its account. In a trade valued at $2,158,476, the Director bought Hello Group Inc ADR shares for $6.29 each.
As published in a research note from BofA Securities on November 06, 2024, Hello Group Inc ADR [MOMO] has been rated down from a Buy to an Underperform. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early June. As of May 15, 2024, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for MOMO. Earlier on April 28, 2023, UBS upgraded its rating. Their new recommendation was “a Buy” for MOMO stock which previously was a “a Neutral”.
Analyzing MOMO Stock Performance
During the last five days, there has been a surge of approximately 17.67%. Over the course of the year, Hello Group Inc ADR shares have jumped approximately 23.01%. Shares of the company reached a 52-week high of $8.19 on 10/02/24 and a 52-week low of $4.79 on 05/28/24. A 50-day SMA is recorded $6.99, while a 200-day SMA reached $6.46. Nevertheless, trading volume fell to 1.22 million shares from 1.78 million shares the previous day.
Support And Resistance Levels for Hello Group Inc ADR (MOMO)
According to the 24-hour chart, there is a support level at 7.66, which, if violated, would cause prices to drop to 7.54. In the upper region, resistance lies at 7.86. The next price resistance is at 7.93. RSI (Relative Strength Index) is 70.74 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.80, which suggests the price will decrease in the coming days. Percent R is at 1.01%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
