Yalla Group (NYSE:YALA) Sees Large Volume Increase – What’s Next?

Shares of Yalla Group Limited (NYSE:YALA) saw unusually-high trading volume on Thursday . Approximately 159,668 shares changed hands during trading, an increase of 17% from the previous session’s volume of 137,053 shares.The stock last traded at $4.08 and had previously closed at $4.09.

Yalla Group Trading Down 1.8 %

The stock has a market capitalization of $631.78 million, a PE ratio of 5.46 and a beta of 1.20. The business has a fifty day moving average price of $4.13 and a 200-day moving average price of $4.18.

Yalla Group (NYSE:YALA) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.22 earnings per share for the quarter. Yalla Group had a net margin of 40.72% and a return on equity of 21.80%. The business had revenue of $88.92 million during the quarter.

Hedge Funds Weigh In On Yalla Group

Several hedge funds and other institutional investors have recently modified their holdings of YALA. GAMMA Investing LLC boosted its stake in shares of Yalla Group by 145.1% during the 3rd quarter. GAMMA Investing LLC now owns 9,288 shares of the company’s stock valued at $42,000 after purchasing an additional 5,498 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Yalla Group in the third quarter worth about $53,000. Walleye Capital LLC purchased a new stake in Yalla Group in the third quarter worth about $68,000. R Squared Ltd bought a new stake in Yalla Group during the 4th quarter valued at approximately $127,000. Finally, Blue Trust Inc. grew its holdings in shares of Yalla Group by 209.0% during the 3rd quarter. Blue Trust Inc. now owns 31,563 shares of the company’s stock worth $144,000 after acquiring an additional 21,349 shares during the period. 4.73% of the stock is owned by institutional investors.

About Yalla Group

Yalla Group Limited operates a social networking and gaming platform primarily in the Middle East and North Africa region. It provides mobile applications, including Yalla, a voice-centric group chat platform; and Yalla Ludo, a casual gaming application. The company’s platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services.