5 Cheap Chinese Stocks to Buy Now

3. Momo Inc. (NASDAQ: MOMO)

Number of Hedge Fund Holders: 25
Share Price as of July 14th: $13.60

Momo Inc. (NASDAQ: MOMO) ranks 3rd on the list of 10 cheap Chinese stocks to buy now. The Beijing-based social media platform is making a storm in the Chinese market by providing a short-video and live-video platform for 115.3 million monthly active users (MAUs). Momo Inc. (NASDAQ: MOMO) also operates Tantan, a dating app with over 3.5 million paying MAUs. The Chinese internet company was founded in 2011 and was formerly known as Momo Technology Company Limited.

The company has a market cap of $2.8 billion. On March 26th, Momo Inc. (NASDAQ: MOMO) was raised by Citigroup analyst Hillman Chan from Neutral to Buy, with a price target of $19.30, up from the previous $16.10. The company’s first-quarter revenue came in at $529.7 million. In the first quarter of 2021, Momo Inc. (NASDAQ: MOMO) had an EPS of $0.45, beating estimates by $0.09. 

At the end of the first quarter of 2021, 25 hedge funds in the database of Insider Monkey held stakes worth $342.4 million in Momo Inc. (NASDAQ: MOMO), up from 24 the preceding quarter worth $342.2 million.