Shares of Paltalk, Inc. (NASDAQ:PALT – Get Free Report) traded down 7.7% on Monday . The stock traded as low as $2.16 and last traded at $2.16. 86,256 shares changed hands during trading, a decline of 5% from the average session volume of 90,837 shares. The stock had previously closed at $2.34.
Analysts Set New Price Targets
Separately, Maxim Group restated a “hold” rating on shares of Paltalk in a report on Wednesday, August 14th.
Read Our Latest Stock Analysis on Paltalk
Paltalk Price Performance
Paltalk (NASDAQ:PALT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $2.22 million during the quarter. Paltalk had a negative net margin of 18.39% and a negative return on equity of 9.58%.
Insider Transactions at Paltalk
In other Paltalk news, CEO Jason Katz purchased 25,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of $2.73 per share, with a total value of $68,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 650,912 shares of the company’s stock, valued at $1,776,989.76. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.80% of the company’s stock.
Hedge Funds Weigh In On Paltalk
An institutional investor recently bought a new position in Paltalk stock. Virtu Financial LLC bought a new stake in Paltalk, Inc. (NASDAQ:PALT – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,431 shares of the company’s stock, valued at approximately $75,000. Virtu Financial LLC owned approximately 0.26% of Paltalk as of its most recent SEC filing. 3.88% of the stock is currently owned by institutional investors and hedge funds.
About Paltalk
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.
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