Paltalk (NASDAQ:PALT) Shares Up 3.8%

Paltalk, Inc. (NASDAQ:PALT)’s stock price shot up 3.8% during mid-day trading on Friday . The company traded as high as $3.21 and last traded at $3.18. 50,442 shares were traded during trading, a decline of 45% from the average session volume of 91,585 shares. The stock had previously closed at $3.07.

Wall Street Analysts Forecast Growth

Separately, Maxim Group reiterated a “hold” rating on shares of Paltalk in a report on Wednesday, August 14th.

Paltalk Trading Up 3.8 %

The company’s fifty day simple moving average is $3.77 and its 200 day simple moving average is $3.70. The firm has a market capitalization of $29.33 million, a P/E ratio of -35.33 and a beta of 0.76.

Paltalk (NASDAQ:PALT) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $2.22 million for the quarter. Paltalk had a negative net margin of 18.39% and a negative return on equity of 9.58%.

Insider Buying and Selling

In related news, CEO Jason Katz purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were bought at an average price of $2.73 per share, for a total transaction of $68,250.00. Following the purchase, the chief executive officer now directly owns 650,912 shares of the company’s stock, valued at approximately $1,776,989.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.80% of the stock is currently owned by insiders.

Institutional Trading of Paltalk

An institutional investor recently bought a new position in Paltalk stock. Virtu Financial LLC acquired a new stake in Paltalk, Inc. (NASDAQ:PALT) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 24,431 shares of the company’s stock, valued at approximately $75,000. Virtu Financial LLC owned approximately 0.26% of Paltalk at the end of the most recent quarter. Hedge funds and other institutional investors own 3.88% of the company’s stock.

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.