Yalla Group Limited (NYSE:YALA) Sees Significant Drop in Short Interest

Yalla Group Limited (NYSE:YALAGet Rating) saw a significant decrease in short interest in May. As of May 31st, there was short interest totalling 2,080,000 shares, a decrease of 18.4% from the May 15th total of 2,550,000 shares. Based on an average daily trading volume, of 551,600 shares, the short-interest ratio is presently 3.8 days.

YALA traded up $0.14 on Friday, reaching $3.86. The stock had a trading volume of 182,817 shares, compared to its average volume of 592,691. Yalla Group has a fifty-two week low of $3.10 and a fifty-two week high of $21.00. The firm has a 50-day moving average of $3.84 and a 200-day moving average of $5.19. The company has a market capitalization of $555.57 million, a price-to-earnings ratio of 8.27 and a beta of 1.44.

Yalla Group (NYSE:YALAGet Rating) last posted its earnings results on Monday, May 16th. The company reported $0.10 EPS for the quarter. The firm had revenue of $72.34 million during the quarter. Yalla Group had a return on equity of 24.77% and a net margin of 28.99%.

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in Yalla Group by 3,711.1% during the 4th quarter. Millennium Management LLC now owns 912,642 shares of the company’s stock worth $6,124,000 after purchasing an additional 888,695 shares during the last quarter. Renaissance Technologies LLC bought a new position in Yalla Group during the 4th quarter worth approximately $2,578,000. Wellington Management Group LLP raised its holdings in 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. Morgan Stanley raised its holdings in Yalla Group by 81.8% during the 3rd quarter. Morgan Stanley now owns 373,314 shares of the company’s stock worth $2,833,000 after purchasing an additional 167,968 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Yalla Group by 973.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 168,510 shares of the company’s stock worth $1,279,000 after purchasing an additional 152,816 shares during the last quarter. Hedge funds and other institutional investors own 22.17% of the company’s stock.

Yalla Group Company Profile (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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