Paltalk (NASDAQ:PALT) Shares Up 7.1% – Still a Buy?

Paltalk, Inc. (NASDAQ:PALT) was up 7.1% during trading on Thursday . The stock traded as high as $1.96 and last traded at $1.95. Approximately 33,958 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 61,798 shares. The stock had previously closed at $1.82.

Paltalk Stock Up 7.1 %

The firm’s 50 day simple moving average is $1.97 and its 200 day simple moving average is $2.14. The company has a market cap of $18.01 million, a price-to-earnings ratio of -5.74 and a beta of 0.91.

Institutional Trading of Paltalk

Large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new position in shares of Paltalk in the fourth quarter worth $56,000. Millennium Management LLC acquired a new stake in Paltalk in the fourth quarter worth about $30,000. Finally, XTX Topco Ltd acquired a new stake in Paltalk in the fourth quarter worth about $28,000. 3.88% of the stock is currently owned by institutional investors and hedge funds.

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.