Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Yalla Group Limited (NYSE:YALA) saw strong trading volume on Wednesday . 87,190 shares were traded during trading, a decline of 28% from the previous session’s volume of 121,236 shares.The stock last traded at $3.95 and had previously closed at $4.04.

Yalla Group Stock Performance

The firm has a fifty day moving average price of $4.23 and a 200 day moving average price of $4.25. The company has a market cap of $629.42 million, a price-to-earnings ratio of 5.44 and a beta of 1.20.

Institutional Investors Weigh In On Yalla Group

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Yalla Group by 145.1% during the 3rd quarter. GAMMA Investing LLC now owns 9,288 shares of the company’s stock worth $42,000 after acquiring an additional 5,498 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Yalla Group in the third quarter valued at $53,000. Walleye Capital LLC bought a new position in shares of Yalla Group in the third quarter valued at about $68,000. Blue Trust Inc. lifted its stake in shares of Yalla Group by 209.0% during the 3rd quarter. Blue Trust Inc. now owns 31,563 shares of the company’s stock worth $144,000 after buying an additional 21,349 shares during the last quarter. Finally, DGS Capital Management LLC boosted its holdings in shares of Yalla Group by 109.0% during the 3rd quarter. DGS Capital Management LLC now owns 76,785 shares of the company’s stock worth $349,000 after buying an additional 40,050 shares during the period. 4.73% of the stock is owned by institutional investors.

Yalla Group Company Profile

Yalla Group Limited operates a social networking and gaming platform primarily in the Middle East and North Africa region. It provides mobile applications, including Yalla, a voice-centric group chat platform; and Yalla Ludo, a casual gaming application. The company’s platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services.