Yalla Group Limited (NYSE:YALA – Get Rating)'s stock price 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.
Yalla Group Stock Performance
The firm's 50-day simple moving average is $4.20 and its 200 day simple moving average is $4.15. The stock has a market capitalization of $530.14 million, a P/E ratio of 7.83 and a beta of 1.14.
Get Yalla Group alerts:Yalla Group (NYSE:YALA – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.12 EPS for the quarter. Yalla Group had a net margin of 28.81% and a return on equity of 23.66%. The firm had revenue of $76.09 million for the quarter.
Institutional Investors Weigh In On Yalla Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in shares of Yalla Group by 209.1% during the 2nd quarter. Renaissance Technologies LLC now owns 852,000 shares of the company's stock worth $3,323,000 after purchasing an additional 576,318 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Yalla Group by 62.9% during the 1st quarter. Wellington Management Group LLP now owns 753,441 shares of the company's stock worth $3,375,000 after purchasing an additional 291,012 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Yalla Group during the 2nd quarter worth about $332,000. JPMorgan Chase & Co. acquired a new position in shares of Yalla Group during the 2nd quarter worth about $253,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Yalla Group by 148.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 45,418 shares of the company's stock worth $177,000 after purchasing an additional 27,116 shares during the last quarter. 3.08% of the stock is owned by institutional investors.About Yalla Group
(Get Rating)
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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