Hello Group Target of Unusually High Options Trading (NASDAQ:MOMO)

Hello Group Inc. (NASDAQ:MOMO) saw some unusual options trading on Thursday. Traders purchased 7,730 call options on the stock. This is an increase of approximately 960% compared to the typical volume of 729 call options.

Hello Group Stock Up 1.1 %

MOMO traded up $0.08 during mid-day trading on Thursday, reaching $7.47. 322,147 shares of the company traded hands, compared to its average volume of 1,635,617. Hello Group has a 52-week low of $4.79 and a 52-week high of $8.19. The stock has a market capitalization of $1.08 billion, a P/E ratio of 7.70, a P/E/G ratio of 2.40 and a beta of 0.51. The company’s fifty day moving average price is $6.99 and its 200-day moving average price is $6.75.

Institutional Investors Weigh In On Hello Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in shares of Hello Group during the third quarter worth $138,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Hello Group in the third quarter worth about $1,013,000. XTX Topco Ltd boosted its stake in Hello Group by 95.1% during the third quarter. XTX Topco Ltd now owns 52,720 shares of the information services provider’s stock valued at $401,000 after buying an additional 25,700 shares during the last quarter. Quadrature Capital Ltd increased its stake in Hello Group by 40.2% in the 3rd quarter. Quadrature Capital Ltd now owns 69,492 shares of the information services provider’s stock worth $528,000 after acquiring an additional 19,909 shares during the last quarter. Finally, Polymer Capital Management HK LTD purchased a new stake in shares of Hello Group during the 3rd quarter worth approximately $894,000. Institutional investors own 50.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MOMO. Citigroup increased 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 lowered Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Benchmark reduced their price objective on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group raised their price objective on Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Hello Group currently has a consensus rating of “Hold” and an average price target of $8.25.

About Hello Group

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.