Yalla Group Limited (NYSE:YALA)’s share price traded down 4% during mid-day trading on Thursday . The stock traded as low as $7.13 and last traded at $7.16. 5,855 shares changed hands during trading, a decline of 100% from the average session volume of 1,828,897 shares. The stock had previously closed at $7.46.
A number of equities research analysts recently weighed in on the stock. Oppenheimer reduced their price target on shares of Yalla Group from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, August 10th. Zacks Investment Research raised shares of Yalla Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 13th.
The company has a market capitalization of $1.04 billion and a price-to-earnings ratio of -46.63. The business’s 50 day simple moving average is $9.17 and its 200 day simple moving average is $15.57.
Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Yalla Group during the first quarter worth about $31,000. UBS Group AG purchased a new stake in Yalla Group during the first quarter worth about $37,000. Royal Bank of Canada boosted its holdings in Yalla Group by 930.9% during the first quarter. Royal Bank of Canada now owns 1,804 shares of the company’s stock worth $45,000 after buying an additional 1,629 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Yalla Group in the second quarter valued at about $114,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Yalla Group in the second quarter valued at about $126,000. Institutional investors and hedge funds own 3.76% of the company’s stock.
About Yalla Group (NYSE:YALA)
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. The company's platform sells virtual items, as well as provides upgrade services. It also offers group chatting and games services.
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