Paltalk, Inc. (NASDAQ:PALT) Short Interest Up 49.6% in July

Paltalk, Inc. (NASDAQ:PALT) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 20,800 shares, a growth of 49.6% from the June 30th total of 13,900 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 20,600 shares, the short-interest ratio is currently 1.0 days.

Paltalk Stock Performance

Paltalk stock traded up $0.08 during mid-day trading on Monday, reaching $4.53. The company’s stock had a trading volume of 38,121 shares, compared to its average volume of 79,315. The business’s 50 day simple moving average is $3.95 and its 200 day simple moving average is $3.89. Paltalk has a 12 month low of $1.53 and a 12 month high of $5.19. The company has a market capitalization of $41.77 million, a price-to-earnings ratio of -50.33 and a beta of 0.85.

Paltalk (NASDAQ:PALT) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter. The business had revenue of $2.60 million during the quarter. Paltalk had a negative return on equity of 4.07% and a negative net margin of 7.45%.

Wall Street Analysts Forecast Growth

Separately, Maxim Group decreased their price objective on shares of Paltalk from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Friday, May 10th.

Institutional Trading of Paltalk

An institutional investor recently bought a new position in Paltalk stock. Virtu Financial LLC acquired a new stake in Paltalk, Inc. (NASDAQ:PALT) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,431 shares of the company’s stock, valued at approximately $75,000. Virtu Financial LLC owned 0.26% of Paltalk at the end of the most recent quarter. 3.88% of the stock is owned by institutional investors and hedge funds.

Paltalk Company Profile

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.