Yalla Group Limited (NYSE:YALA) Sees Significant Decrease in Short Interest

Yalla Group Limited (NYSE:YALA - Get Free Report) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 1,090,000 shares, a decline of 24.3% from the April 30th total of 1,440,000 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is currently 0.9 days.

Yalla Group Stock Performance

NYSE YALA traded down $0.21 on Thursday, reaching $6.92. The stock had a trading volume of 663,779 shares, compared to its average volume of 475,565. Yalla Group has a 12-month low of $3.71 and a 12-month high of $8.29. The business's 50-day moving average price is $6.77 and its 200 day moving average price is $5.14. The stock has a market cap of $1.09 billion, a P/E ratio of 9.47 and a beta of 0.82.

Yalla Group (NYSE:YALA - Get Free Report) last issued its quarterly earnings data on Monday, May 19th. The company reported $0.22 earnings per share for the quarter. Yalla Group had a return on equity of 21.80% and a net margin of 40.72%. The company had revenue of $83.88 million during the quarter.

Institutional Investors Weigh In On Yalla Group

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Yalla Group during the first quarter worth about $61,000. Dynamic Technology Lab Private Ltd acquired a new position in Yalla Group during the 4th quarter worth approximately $74,000. QRG Capital Management Inc. raised its stake in shares of Yalla Group by 14.7% during the 4th quarter. QRG Capital Management Inc. now owns 23,400 shares of the company's stock worth $95,000 after buying an additional 2,996 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Yalla Group during the 4th quarter worth approximately $99,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Yalla Group by 123.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 26,173 shares of the company's stock valued at $106,000 after buying an additional 14,483 shares during the period. 4.73% of the stock is owned by institutional investors and hedge funds.

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.