Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume – Here’s What Happened

Yalla Group Limited Sponsored ADR (NYSE:YALA) shares saw an uptick in trading volume on Wednesday. Approximately 846,401 shares traded hands during trading, an increase of 178% from the previous session’s volume of 304,014 shares. The stock last traded at $5.6450 and had previously closed at $5.66.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Yalla Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 9th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Yalla Group Price Performance

The company has a market capitalization of $857.49 million, a P/E ratio of 7.36 and a beta of 0.40. The company’s 50-day moving average price is $5.48 and its two-hundred day moving average price is $5.78.

Yalla Group (NYSE:YALA) last announced its earnings results on Tuesday, August 18th. The company reported $0.21 EPS for the quarter. Yalla Group had a net margin of 40.78% and a return on equity of 16.82%. The business had revenue of $82.61 million during the quarter.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Yalla Group by 21.8% in the third quarter. GAMMA Investing LLC now owns 23,005 shares of the company’s stock valued at $124,000 after acquiring an additional 4,113 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Yalla Group in the 2nd quarter worth about $58,000. EverSource Wealth Advisors LLC raised its stake in Yalla Group by 67.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,202 shares of the company’s stock worth $64,000 after purchasing an additional 4,112 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Yalla Group in the 1st quarter valued at about $83,000. Finally, DGS Capital Management LLC boosted its holdings in Yalla Group by 9.0% in the 1st quarter. DGS Capital Management LLC now owns 56,783 shares of the company’s stock valued at $354,000 after purchasing an additional 4,712 shares during the period. Institutional investors own 4.73% of the company’s stock.

Yalla Group Company Profile

Yalla Group Limited is a technology company that operates social networking, voice-chat and digital entertainment platforms primarily serving users in the Middle East and North Africa. The company’s services are designed to support online communication, community interaction and casual gaming through mobile applications.

Its flagship platform, Yalla, is a voice-centered social networking application that enables users to participate in group discussions, chat rooms and other online communities.