Yalla Group (NYSE:YALA) Stock Falls 1% – Here’s Why

Yalla Group Limited Sponsored ADR (NYSE:YALA) dropped 1% during mid-day trading on Wednesday. The stock traded as low as $5.36 and last traded at $5.3650. Approximately 278,365 shares changed hands during trading, an increase of 2% from the average daily volume of 272,528 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Yalla Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Yalla Group Stock Performance

The firm has a market cap of $811.45 million, a price-to-earnings ratio of 6.89 and a beta of 0.40. The company’s fifty day moving average is $5.46 and its two-hundred day moving average is $5.84.

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

Institutional Investors Weigh In On Yalla Group

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in Yalla Group during the 2nd quarter valued at $58,000. EverSource Wealth Advisors LLC lifted its holdings in Yalla Group by 67.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,202 shares of the company’s stock worth $64,000 after buying an additional 4,112 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Yalla Group in the 1st quarter valued at about $83,000. DGS Capital Management LLC boosted its position in Yalla Group by 9.0% in the 1st quarter. DGS Capital Management LLC now owns 56,783 shares of the company’s stock valued at $354,000 after buying an additional 4,712 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Yalla Group by 14.4% during the first quarter. QRG Capital Management Inc. now owns 22,814 shares of the company’s stock valued at $142,000 after acquiring an additional 2,863 shares in the last quarter. 4.73% of the stock is currently owned by hedge funds and other institutional investors.

About Yalla Group

Yalla Group Limited is a technology company that operates social networking and entertainment platforms serving users primarily in the Middle East and North Africa. The company is headquartered in the United Arab Emirates and focuses on digital products designed to support online communication, social interaction and casual gaming.

Its flagship application, Yalla, is a voice-centered social networking platform that provides virtual chat rooms and community features. The company also operates Yalla Ludo, a mobile gaming application based on traditional board games, including ludo and dominoes, with social and multiplayer functionality.