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

Yalla Group Limited Sponsored ADR (NYSE:YALA) shares saw strong trading volume on Wednesday. 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.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Yalla Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Yalla Group Stock Performance

The company has a market capitalization of $864.99 million, a PE ratio of 7.36 and a beta of 0.40. The company has a 50 day moving average price of $5.47 and a 200 day moving average price of $5.79.

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

Institutional Investors Weigh In On Yalla Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. ACT Capital Management LLC acquired a new stake in shares of Yalla Group in the 4th quarter valued at about $35,000. Public Employees Retirement System of Ohio bought a new position in shares of Yalla Group during the second quarter worth about $58,000. EverSource Wealth Advisors LLC lifted its position in shares of Yalla Group by 67.5% during the first 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 during the last quarter. Lazard Asset Management LLC acquired a new position in Yalla Group in the first quarter worth about $83,000. Finally, GAMMA Investing LLC grew its stake in Yalla Group by 21.8% in the third quarter. GAMMA Investing LLC now owns 23,005 shares of the company’s stock worth $124,000 after purchasing an additional 4,113 shares in the last quarter. 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.