Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume – Should You Buy?

Yalla Group Limited (NYSE:YALA) shares saw strong trading volume on Friday . 193,040 shares were traded during mid-day trading, a decline of 25% from the previous session’s volume of 257,649 shares.The stock last traded at $4.38 and had previously closed at $4.30.

Yalla Group Stock Up 2.1 %

The stock’s 50-day moving average price is $4.30 and its 200-day moving average price is $4.31. The company has a market capitalization of $695.99 million, a price-to-earnings ratio of 5.99 and a beta of 1.18.

Institutional Trading of Yalla Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Yalla Group by 145.1% in the 3rd quarter. GAMMA Investing LLC now owns 9,288 shares of the company’s stock valued at $42,000 after purchasing an additional 5,498 shares during the period. State Street Corp boosted its position in shares of Yalla Group by 1.5% during the third quarter. State Street Corp now owns 538,689 shares of the company’s stock worth $2,446,000 after purchasing an additional 7,924 shares in the last quarter. Blue Trust Inc. increased its position in shares of Yalla Group by 36,378.6% in the 2nd quarter. Blue Trust Inc. now owns 10,214 shares of the company’s stock valued at $49,000 after buying an additional 10,186 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Yalla Group during the 3rd quarter worth $53,000. Finally, Walleye Capital LLC bought a new position in Yalla Group during the third quarter worth about $68,000. 4.73% of the stock is owned by institutional investors.

About Yalla Group

Yalla Group Limited operates a social networking and gaming platform primarily in the Middle East and North Africa region. It provides mobile applications, including Yalla, a voice-centric group chat platform; and Yalla Ludo, a casual gaming application. The company’s platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services.