Short Interest in Hello Group Inc. (NASDAQ:MOMO) Declines By 17.9%

Hello Group Inc. (NASDAQ:MOMOGet Rating) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 10,480,000 shares, a drop of 17.9% from the May 15th total of 12,760,000 shares. Based on an average daily volume of 4,360,000 shares, the short-interest ratio is presently 2.4 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in Hello Group by 93.7% during the fourth quarter. Parallel Advisors LLC now owns 3,094 shares of the information services provider’s stock worth $28,000 after buying an additional 1,497 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in Hello Group by 3,968.3% during the first quarter. Banque Cantonale Vaudoise now owns 5,126 shares of the information services provider’s stock worth $30,000 after buying an additional 5,000 shares during the last quarter. Quantbot Technologies LP acquired a new position in Hello Group during the first quarter worth $32,000. US Bancorp DE boosted its stake in Hello Group by 49.6% during the first quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock worth $49,000 after buying an additional 2,819 shares during the last quarter. Finally, Platinum Investment Management Ltd. boosted its stake in Hello Group by 57.0% during the first quarter. Platinum Investment Management Ltd. now owns 9,871 shares of the information services provider’s stock worth $57,000 after buying an additional 3,585 shares during the last quarter. 60.44% of the stock is currently owned by institutional investors.

Shares of NASDAQ:MOMO traded up $0.22 during trading on Friday, reaching $5.22. The stock had a trading volume of 2,322,793 shares, compared to its average volume of 3,365,989. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.91 and a current ratio of 2.91. The business has a fifty day moving average price of $5.17 and a 200-day moving average price of $7.50. The stock has a market cap of $825.66 million, a PE ratio of -2.08 and a beta of 1.24. Hello Group has a 1-year low of $4.14 and a 1-year high of $16.11.

Hello Group (NASDAQ:MOMOGet Rating) last issued its quarterly earnings results on Tuesday, June 7th. The information services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.34. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.13 billion. Hello Group had a negative return on equity of 24.64% and a negative net margin of 21.82%. The business’s revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. Sell-side analysts expect that Hello Group will post 0.68 earnings per share for the current year.

The business also recently disclosed a — dividend, which was paid on Friday, April 29th. Shareholders of record on Wednesday, April 13th were paid a dividend of $0.62 per share. The ex-dividend date was Tuesday, April 12th.

MOMO has been the topic of several research analyst reports. TheStreet lowered Hello Group from a “c” rating to a “d” rating in a report on Monday. Citigroup dropped their price objective on Hello Group from $8.10 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, June 8th. Benchmark dropped their price objective on Hello Group from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, June 8th. JPMorgan Chase & Co. lowered Hello Group from an “overweight” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Monday, March 14th. Finally, StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.75.

About Hello Group (Get Rating)

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.

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