Yalla Group (NYSE:YALA) Sees Large Volume Increase – Time to Buy?

Shares of Yalla Group Limited (NYSE:YALA) saw unusually-strong trading volume on Thursday . Approximately 159,668 shares traded hands during trading, an increase of 17% from the previous session’s volume of 137,053 shares.The stock last traded at $4.08 and had previously closed at $4.09.

Yalla Group Stock Performance

The firm has a market capitalization of $631.78 million, a P/E ratio of 5.46 and a beta of 1.20. The firm has a 50 day simple moving average of $4.13 and a two-hundred day simple moving average of $4.18.

Yalla Group (NYSE:YALA) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.22 EPS for the quarter. Yalla Group had a return on equity of 21.80% and a net margin of 40.72%. The business had revenue of $88.92 million for the quarter.

Institutional Investors Weigh In On Yalla Group

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Yalla Group by 145.1% in the third quarter. GAMMA Investing LLC now owns 9,288 shares of the company’s stock worth $42,000 after purchasing an additional 5,498 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Yalla Group during the third quarter worth $53,000. Walleye Capital LLC bought a new position in shares of Yalla Group in the third quarter worth $68,000. R Squared Ltd purchased a new position in shares of Yalla Group in the fourth quarter valued at $127,000. Finally, Blue Trust Inc. raised 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 valued at $144,000 after purchasing an additional 21,349 shares during the period. Hedge funds and other institutional investors own 4.73% of the company’s stock.

About Yalla Group

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.