Yalla Group (NYSE:YALA) Stock Price Down 6.1% – Here’s Why

Yalla Group Limited Sponsored ADR (NYSE:YALA)’s stock price was down 6.1% during mid-day trading on Tuesday . The company traded as low as $6.90 and last traded at $6.8450. 58,499 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 199,096 shares. The stock had previously closed at $7.29.

Analyst Ratings Changes

YALA has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Yalla Group in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Yalla Group from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Yalla Group presently has an average rating of “Hold”.

Yalla Group Stock Down 0.6%

The company has a market capitalization of $1.07 billion, a P/E ratio of 8.36 and a beta of 0.25. The business has a fifty day moving average price of $7.05 and a 200 day moving average price of $7.38.

Yalla Group (NYSE:YALA) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.23 earnings per share (EPS) for the quarter. The business had revenue of $89.64 million during the quarter. Yalla Group had a return on equity of 20.06% and a net margin of 42.29%.

Institutional Trading of Yalla Group

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in Yalla Group by 64.6% during the first quarter. Goldman Sachs Group Inc. now owns 104,475 shares of the company’s stock worth $545,000 after purchasing an additional 41,003 shares during the last quarter. GAMMA Investing LLC lifted its position in Yalla Group by 10.0% during the 2nd quarter. GAMMA Investing LLC now owns 17,927 shares of the company’s stock worth $121,000 after buying an additional 1,635 shares in the last quarter. Retireful LLC bought a new stake in Yalla Group during the 2nd quarter worth about $75,000. Ariose Capital Management Ltd acquired a new position in shares of Yalla Group during the 2nd quarter worth about $3,808,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Yalla Group by 228.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 625,165 shares of the company’s stock valued at $4,214,000 after acquiring an additional 434,559 shares in the last quarter. Institutional investors own 4.73% of the company’s stock.

Yalla Group Company Profile

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.