Paltalk (NASDAQ:PALT) Shares Up 7.1% – Here’s What Happened

Paltalk, Inc. (NASDAQ:PALT)’s stock price shot up 7.1% during mid-day trading on Thursday . The company traded as high as $1.96 and last traded at $1.95. 33,958 shares were traded during trading, a decline of 45% from the average session volume of 61,798 shares. The stock had previously closed at $1.82.

Paltalk Price Performance

The business’s fifty day moving average price is $1.97 and its 200-day moving average price is $2.13. The stock has a market capitalization of $16.81 million, a PE ratio of -5.35 and a beta of 0.91.

Institutional Investors Weigh In On Paltalk

Several large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in Paltalk in the fourth quarter valued at approximately $28,000. Citadel Advisors LLC bought a new position in shares of Paltalk in the 4th quarter worth $56,000. Finally, Millennium Management LLC purchased a new stake in shares of Paltalk during the 4th quarter valued at $30,000. Institutional investors own 3.88% of the company’s stock.

Paltalk Company Profile

Paltalk, Inc, together with its subsidiaries, develops communications software and multimedia social applications worldwide. It offers consumer applications, which include Paltalk, Camfrog, and Tinychat for live video chat; and owns and operates Vumber, a telecommunications services provider that enables users to have multiple phone numbers in any area code through which calls can be forwarded to a user’s existing cell phone or land line telephone number.