Paltalk, Inc. (NASDAQ:PALT) Sees Significant Drop in Short Interest

Paltalk, Inc. (NASDAQ:PALT) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 25,800 shares, a decrease of 20.6% from the November 30th total of 32,500 shares. Based on an average trading volume of 53,800 shares, the short-interest ratio is currently 0.5 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Trading of Paltalk

A hedge fund recently raised its stake in Paltalk stock. Renaissance Technologies LLC raised its position in shares of Paltalk, Inc. (NASDAQ:PALT) by 11.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the company’s stock after acquiring an additional 2,500 shares during the period. Renaissance Technologies LLC owned approximately 0.27% of Paltalk worth $100,000 as of its most recent SEC filing. Institutional investors and hedge funds own 3.88% of the company’s stock.

Paltalk Price Performance

PALT traded up $0.01 on Tuesday, hitting $1.99. The company had a trading volume of 90,772 shares, compared to its average volume of 82,865. The stock has a market cap of $18.38 million, a price-to-earnings ratio of -5.85 and a beta of 0.86. The company’s fifty day moving average price is $1.89 and its 200 day moving average price is $3.04. Paltalk has a 1-year low of $1.52 and a 1-year high of $5.50.

Paltalk Company Profile

Paltalk, Inc, together with its subsidiaries, develops communications software and multimedia social applications worldwide. It offers consumer applications, which include Paltalk, Camfrog, and Tinychat for live video chat; and owns and operates Vumber, a telecommunications services provider that enables users to have multiple phone numbers in any area code through which calls can be forwarded to a user’s existing cell phone or land line telephone number.