Paltalk (NASDAQ:PALT) Trading Up 7.1% – What’s Next?

Paltalk, Inc. (NASDAQ:PALT) traded up 7.1% during trading on Thursday . The stock traded as high as $1.96 and last traded at $1.95. 33,958 shares changed hands during trading, a decline of 45% from the average session volume of 61,798 shares. The stock had previously closed at $1.82.

Paltalk Stock Down 0.5 %

The stock has a market capitalization of $16.81 million, a price-to-earnings ratio of -5.35 and a beta of 0.91. The company has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $2.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in shares of Paltalk during the fourth quarter worth approximately $28,000. Millennium Management LLC bought a new stake in Paltalk during the fourth quarter worth $30,000. Finally, Citadel Advisors LLC purchased a new stake in Paltalk in the 4th quarter valued at $56,000. Institutional investors own 3.88% of the company’s stock.

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.