Yalla Group (NYSE:YALA) Stock Price Up 4.8% – What’s Next?

Yalla Group Limited Sponsored ADR (NYSE:YALA)’s share price shot up 4.8% on Tuesday . The stock traded as high as $5.58 and last traded at $5.5970. Approximately 109,930 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 296,992 shares. The stock had previously closed at $5.34.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Yalla Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Yalla Group Stock Performance

The company’s 50 day simple moving average is $5.39 and its two-hundred day simple moving average is $6.17. The stock has a market cap of $845.26 million, a price-to-earnings ratio of 7.18 and a beta of 0.47.

Yalla Group (NYSE:YALA) last posted its quarterly earnings results on Tuesday, August 18th. The company reported $0.21 earnings per share for the quarter. The business had revenue of $82.61 million for the quarter. Yalla Group had a net margin of 40.78% and a return on equity of 17.04%.

Institutional Investors Weigh In On Yalla Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FIL Ltd acquired a new position in Yalla Group in the fourth quarter worth approximately $14,053,000. Barclays PLC raised its position in Yalla Group by 714.8% during the third quarter. Barclays PLC now owns 817,404 shares of the company’s stock valued at $6,139,000 after acquiring an additional 717,084 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Yalla Group in the second quarter valued at approximately $2,810,000. Canada Pension Plan Investment Board acquired a new stake in Yalla Group in the second quarter valued at approximately $2,424,000. Finally, Qube Research & Technologies Ltd lifted its stake in Yalla Group by 183.7% in the third quarter. Qube Research & Technologies Ltd now owns 435,184 shares of the company’s stock valued at $3,268,000 after acquiring an additional 281,768 shares during the last quarter. 4.73% of the stock is owned by hedge funds and other institutional investors.

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.