Yalla Group (NYSE:YALA) Stock Price Down 0.3% – Here’s What Happened

Yalla Group Limited Sponsored ADR (NYSE:YALA)’s share price traded down 0.3% during trading on Tuesday . The stock traded as low as $5.38 and last traded at $5.4650. 354,649 shares changed hands during trading, an increase of 3% from the average session volume of 343,713 shares. The stock had previously closed at $5.48.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Yalla Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Yalla Group Trading Down 0.1%

The company’s fifty day moving average is $5.44 and its 200 day moving average is $6.00. The company has a market cap of $832.87 million, a P/E ratio of 7.07 and a beta of 0.51.

Yalla Group (NYSE:YALA) last posted 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 Trading of Yalla Group

Several hedge funds and other institutional investors have recently bought and sold shares of YALA. FIL Ltd bought a new stake in shares of Yalla Group in the 4th quarter worth approximately $14,053,000. Barclays PLC lifted its stake in Yalla Group by 714.8% in the third quarter. Barclays PLC now owns 817,404 shares of the company’s stock worth $6,139,000 after acquiring an additional 717,084 shares during the period. JPMorgan Chase & Co. purchased a new stake in Yalla Group in the second quarter worth $2,810,000. Canada Pension Plan Investment Board bought a new stake in Yalla Group in the second quarter valued at $2,424,000. Finally, Qube Research & Technologies Ltd boosted its holdings in Yalla Group by 183.7% in the third quarter. Qube Research & Technologies Ltd now owns 435,184 shares of the company’s stock valued at $3,268,000 after acquiring an additional 281,768 shares in the last quarter. Institutional investors own 4.73% of the company’s stock.

About Yalla Group

Yalla Group (NYSE:YALA) operates a voice-centric social networking and entertainment platform designed to connect users through live audio chat rooms, interactive voice channels and mobile gaming. Its core product, the Yalla app, allows participants in the Middle East and North Africa (MENA) region to join real-time voice discussion groups, host audio shows and send virtual gifts. Through the PokerBROS brand, the company offers a mobile-first social poker platform featuring Texas Hold’em, Chinese Poker and other variants, enabling casual and competitive gaming among a growing user base.

Founded in 2016 and incorporated in the Cayman Islands, Yalla Group established its headquarters in Riyadh with additional offices in Dubai and Asia.