Yalla Group (NYSE:YALA) Shares Gap Down – Time to Sell?

Yalla Group Limited Sponsored ADR (NYSE:YALA) shares gapped down prior to trading on Tuesday . The stock had previously closed at $7.11, but opened at $6.79. Yalla Group shares last traded at $6.5750, with a volume of 144,119 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Yalla Group in a report on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Yalla Group Stock Up 0.7%

The company has a 50 day simple moving average of $7.02 and a 200-day simple moving average of $7.20. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 7.91 and a beta of 0.43.

Yalla Group (NYSE:YALA) last issued its earnings results on Tuesday, March 10th. The company reported $0.21 EPS for the quarter. The company had revenue of $83.86 million during the quarter. Yalla Group had a return on equity of 20.02% and a net margin of 43.82%.

Yalla Group declared that its board has initiated a share buyback program on Monday, March 9th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Yalla Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Yalla Group by 64.6% in the first quarter. Goldman Sachs Group Inc. now owns 104,475 shares of the company’s stock worth $545,000 after acquiring an additional 41,003 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Yalla Group during the second quarter valued at approximately $748,000. SBI Securities Co. Ltd. raised its position in shares of Yalla Group by 1,200.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 20,304 shares of the company’s stock worth $137,000 after purchasing an additional 18,743 shares during the period. Geode Capital Management LLC bought a new stake in shares of Yalla Group in the 2nd quarter worth approximately $166,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Yalla Group in the 2nd quarter worth approximately $2,810,000. Institutional investors and hedge funds own 4.73% of the company’s stock.

About Yalla Group

Yalla Group (NYSE:YALA) operates a voice-centric social networking and entertainment platform designed to connect users through live audio chat rooms, interactive voice channels and mobile gaming. Its core product, the Yalla app, allows participants in the Middle East and North Africa (MENA) region to join real-time voice discussion groups, host audio shows and send virtual gifts. Through the PokerBROS brand, the company offers a mobile-first social poker platform featuring Texas Hold’em, Chinese Poker and other variants, enabling casual and competitive gaming among a growing user base.

Founded in 2016 and incorporated in the Cayman Islands, Yalla Group established its headquarters in Riyadh with additional offices in Dubai and Asia.