Yalla Group (NYSE:YALA) Sees Strong Trading Volume – Still a Buy?

Yalla Group Limited (NYSE:YALA) saw unusually-strong trading volume on Monday . Approximately 1,256,603 shares changed hands during trading, an increase of 355% from the previous session’s volume of 276,168 shares.The stock last traded at $6.50 and had previously closed at $5.87.

Yalla Group Price Performance

The firm has a market capitalization of $962.36 million, a P/E ratio of 8.32 and a beta of 0.96. The stock’s 50-day simple moving average is $4.64 and its two-hundred day simple moving average is $4.36.

Yalla Group (NYSE:YALA) last issued its quarterly earnings results on Monday, March 10th. The company reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $90.83 million during the quarter. Yalla Group had a return on equity of 21.80% and a net margin of 40.72%. During the same quarter in the previous year, the company posted $0.17 EPS.

Institutional Investors Weigh In On Yalla Group

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its stake in Yalla Group by 1.5% during the third quarter. State Street Corp now owns 538,689 shares of the company’s stock valued at $2,446,000 after acquiring an additional 7,924 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Yalla Group during the third quarter valued at about $53,000. DGS Capital Management LLC increased its holdings in shares of Yalla Group by 109.0% in the third quarter. DGS Capital Management LLC now owns 76,785 shares of the company’s stock worth $349,000 after purchasing an additional 40,050 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Yalla Group by 150.3% in the fourth quarter. GAMMA Investing LLC now owns 23,248 shares of the company’s stock worth $94,000 after buying an additional 13,960 shares in the last quarter. Finally, R Squared Ltd bought a new position in Yalla Group during the fourth quarter valued at approximately $127,000. 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.