Short Interest in Paltalk, Inc. (NASDAQ:PALT) Increases By 44.2%

Posted by Joseph McCarthy on Aug 14th, 2024

Paltalk, Inc. (NASDAQ:PALT – Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 30,000 shares, an increase of 44.2% from the July 15th total of 20,800 shares. Based on an average daily volume of 27,300 shares, the short-interest ratio is currently 1.1 days. Currently, 0.5% of the company’s stock are short sold.

Paltalk Price Performance

NASDAQ PALT traded up $0.15 on Wednesday, reaching $4.05. The company had a trading volume of 48,753 shares, compared to its average volume of 78,493. Paltalk has a 1 year low of $1.53 and a 1 year high of $5.19. The firm has a 50-day moving average of $4.10 and a 200-day moving average of $3.95. The firm has a market capitalization of $37.34 million, a PE ratio of -45.00 and a beta of 0.84.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Paltalk stock. Renaissance Technologies LLC boosted its position in Paltalk, Inc. (NASDAQ:PALT – Free Report) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Renaissance Technologies LLC owned 0.27% of Paltalk worth $100,000 at the end of the most recent quarter. Institutional investors own 3.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Maxim Group reissued a “hold” rating on shares of Paltalk in a research report on Wednesday.

Check Out Our Latest Report on Paltalk

Paltalk Company Profile

(Get Free Report)

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.