Yalla Group (NYSE:YALA) Shares Cross Above Fifty Day Moving Average – Here’s Why

Yalla Group Limited Sponsored ADR (NYSE:YALA)’s stock price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $5.51 and traded as high as $5.53. Yalla Group shares last traded at $5.5250, with a volume of 459,234 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Yalla Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 27th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Yalla Group Trading Up 1.0%

The firm has a market cap of $845.11 million, a P/E ratio of 7.18 and a beta of 0.49. The business’s fifty day simple moving average is $5.51 and its 200-day simple moving average is $6.00.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of YALA. StoneX Group Inc. bought a new position in Yalla Group during the 3rd quarter valued at approximately $108,000. Diversified Trust Co lifted its holdings in Yalla Group by 26.2% in the 3rd quarter. Diversified Trust Co now owns 102,531 shares of the company’s stock worth $551,000 after buying an additional 21,289 shares during the period. R Squared Ltd purchased a new stake in Yalla Group in the 3rd quarter worth approximately $74,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Yalla Group in the 3rd quarter worth approximately $104,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Yalla Group by 6.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 791,439 shares of the company’s stock worth $4,250,000 after buying an additional 49,681 shares during the last quarter. Hedge funds and other institutional investors own 4.73% of the company’s stock.

Yalla Group Company Profile

Yalla Group is a technology company focused on mobile social networking and online entertainment for users in the Middle East and North Africa. Its platforms combine digital communication with interactive games and community features. The company’s main products include Yalla, a voice-based group chat and social networking app, and Yalla Ludo, a mobile gaming app featuring board games such as Ludo and dominoes. Both offer social features that let users communicate and play together. Yalla Group is based in the United Arab Emirates and primarily serves users across the Middle East and North Africa.