Yalla Group (NYSE:YALA) Shares Gap Down to $3.68

Yalla Group Limited (NYSE:YALAGet Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $3.68, but opened at $3.59. Yalla Group shares last traded at $3.58, with a volume of 112 shares trading hands.

Yalla Group Trading Down 2.3 %

The business has a 50-day moving average price of $4.17 and a 200 day moving average price of $4.13. The stock has a market cap of $507.98 million, a PE ratio of 7.32 and a beta of 1.14.

Yalla Group (NYSE:YALAGet Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.12 EPS for the quarter. Yalla Group had a return on equity of 23.66% and a net margin of 28.81%. The firm had revenue of $76.09 million for the quarter.

Institutional Trading of Yalla Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC lifted its holdings in Yalla Group by 16.1% during the 2nd quarter. Exchange Traded Concepts LLC now owns 19,180 shares of the company’s stock worth $75,000 after purchasing an additional 2,660 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Yalla Group by 18.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,302 shares of the company’s stock worth $82,000 after purchasing an additional 2,903 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Yalla Group by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 29,700 shares of the company’s stock worth $133,000 after purchasing an additional 4,195 shares in the last quarter. Sciencast Management LP purchased a new stake in Yalla Group during the 1st quarter worth about $50,000. Finally, Raymond James & Associates purchased a new stake in Yalla Group during the 4th quarter worth about $123,000. Hedge funds and other institutional investors own 3.08% of the company’s stock.

Yalla Group Company Profile

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Yalla Group Limited operates a voice-centric social networking and entertainment platform under the Yalla name primarily in the Middle East and North Africa region. Its platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services. The company was formerly known as FYXTech Corporation.

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