Yalla Group (NYSE:YALA) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Shares of Yalla Group Limited Sponsored ADR (NYSE:YALA) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $5.51 and traded as high as $5.53. Yalla Group shares last traded at $5.5250, with a volume of 459,234 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Yalla Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 27th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Yalla Group Stock Performance

The company has a market cap of $845.11 million, a PE ratio of 7.18 and a beta of 0.49. The stock’s 50 day moving average price is $5.51 and its 200-day moving average price is $6.00.

Yalla Group (NYSE:YALA) last released its earnings results on Tuesday, August 18th. The company reported $0.21 EPS for the quarter. The company had revenue of $82.61 million for the quarter. Yalla Group had a net margin of 40.78% and a return on equity of 16.82%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Yalla Group in the 2nd quarter valued at about $58,000. EverSource Wealth Advisors LLC boosted its holdings in Yalla Group by 67.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,202 shares of the company’s stock valued at $64,000 after acquiring an additional 4,112 shares during the period. R Squared Ltd bought a new position in Yalla Group during the 3rd quarter worth approximately $74,000. Lazard Asset Management LLC bought a new position in Yalla Group during the 1st quarter worth approximately $83,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Yalla Group during the 3rd quarter worth approximately $104,000. Hedge funds and other institutional investors own 4.73% of the company’s stock.

About Yalla Group

Yalla Group is a technology company focused on mobile social networking and online entertainment for users in the Middle East and North Africa. Its platforms combine digital communication with interactive games and community features. The company’s main products include Yalla, a voice-based group chat and social networking app, and Yalla Ludo, a mobile gaming app featuring board games such as Ludo and dominoes. Both offer social features that let users communicate and play together. Yalla Group is based in the United Arab Emirates and primarily serves users across the Middle East and North Africa.