Traders Purchase Large Volume of Hello Group Call Options (NASDAQ:MOMO)

Hello Group Inc. (NASDAQ:MOMO) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 6,718 call options on the company. This is an increase of approximately 392% compared to the typical volume of 1,366 call options.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Citigroup raised their price target on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Bank of America downgraded shares of Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.25.

Hello Group Stock Down 2.2 %

Hello Group stock opened at $7.67 on Friday. The company has a market capitalization of $1.11 billion, a PE ratio of 7.91, a PEG ratio of 2.07 and a beta of 0.47. Hello Group has a 12-month low of $4.79 and a 12-month high of $8.38. The firm’s fifty day moving average is $7.39 and its 200 day moving average is $7.07.

Institutional Investors Weigh In On Hello Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Beijing Investment Ltd bought a new position in Hello Group in the third quarter worth approximately $30,773,000. Norges Bank acquired a new stake in Hello Group in the fourth quarter valued at approximately $10,765,000. Assenagon Asset Management S.A. bought a new stake in shares of Hello Group during the fourth quarter valued at approximately $8,616,000. BNP Paribas Financial Markets acquired a new position in shares of Hello Group during the fourth quarter worth approximately $4,535,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Hello Group in the 4th quarter worth $1,789,000. 50.96% of the stock is owned by institutional investors.

Hello Group Company Profile

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.