Yalla Group (NYSE:YALA) Trading Down 6.1% – Here’s Why

Yalla Group Limited Sponsored ADR (NYSE:YALA)’s share price traded down 6.1% during trading on Tuesday . The stock traded as low as $6.90 and last traded at $6.8450. 58,499 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 199,096 shares. The stock had previously closed at $7.29.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on YALA. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Yalla Group in a research report on Wednesday, October 8th. Wall Street Zen downgraded Yalla Group from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Yalla Group currently has an average rating of “Hold”.

Yalla Group Stock Performance

The company’s fifty day moving average is $7.08 and its two-hundred day moving average is $7.39. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 8.45 and a beta of 0.25.

Yalla Group (NYSE:YALA) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.23 EPS for the quarter. Yalla Group had a net margin of 42.29% and a return on equity of 20.06%. The company had revenue of $89.64 million for the quarter.

Hedge Funds Weigh In On Yalla Group

A number of large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew 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 valued at $545,000 after purchasing an additional 41,003 shares during the period. GAMMA Investing LLC grew its stake in Yalla Group by 10.0% in the 2nd quarter. GAMMA Investing LLC now owns 17,927 shares of the company’s stock valued at $121,000 after acquiring an additional 1,635 shares during the period. Retireful LLC purchased a new stake in Yalla Group in the 2nd quarter worth $75,000. Ariose Capital Management Ltd acquired a new position in Yalla Group during the second quarter worth $3,808,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Yalla Group by 228.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 625,165 shares of the company’s stock valued at $4,214,000 after purchasing an additional 434,559 shares in the last quarter. Institutional investors and hedge funds own 4.73% of the company’s stock.

Yalla Group Company Profile

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.