Yalla Group Limited (NYSE:YALA) was down 4% during mid-day trading on Thursday . The company traded as low as $7.13 and last traded at $7.16. Approximately 5,855 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 1,828,897 shares. The stock had previously closed at $7.46.
A number of analysts have weighed in on the company. Oppenheimer lowered their target price on Yalla Group from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, August 10th. Zacks Investment Research upgraded Yalla Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 13th.
The firm has a 50-day moving average of $9.17 and a 200-day moving average of $15.57. The stock has a market capitalization of $1.04 billion and a price-to-earnings ratio of -46.63.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP acquired a new stake in Yalla Group during the 2nd quarter worth about $39,980,000. Franchise Capital Ltd purchased a new stake in shares of Yalla Group during the 1st quarter worth about $30,295,000. Indus Capital Partners LLC boosted its stake in shares of Yalla Group by 177.0% during the 2nd quarter. Indus Capital Partners LLC now owns 536,780 shares of the company’s stock worth $10,730,000 after acquiring an additional 342,980 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of Yalla Group during the 1st quarter worth about $10,851,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Yalla Group during the 1st quarter worth about $8,438,000. 3.76% of the stock is currently owned by institutional investors.
Yalla Group Company Profile (NYSE:YALA)
Yalla Group Limited operates a voice-centric social networking and entertainment platform under the Yalla name primarily in the Middle East and North Africa region. The company's platform sells virtual items, as well as provides upgrade services. It also offers group chatting and games services.
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