Paltalk, Inc. (NASDAQ:PALT) Short Interest Update

Paltalk, Inc. (NASDAQ:PALT) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 51,300 shares, a decrease of 26.9% from the October 15th total of 70,200 shares. Based on an average daily volume of 109,500 shares, the short-interest ratio is presently 0.5 days. Currently, 0.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

Paltalk Stock Performance

NASDAQ PALT traded down $0.01 during trading hours on Thursday, hitting $1.83. 32,967 shares of the company’s stock were exchanged, compared to its average volume of 87,508. The firm has a market capitalization of $16.87 million, a P/E ratio of -5.41 and a beta of 0.84. The business’s 50 day moving average is $2.55 and its 200-day moving average is $3.43. Paltalk has a 12-month low of $1.64 and a 12-month high of $5.50.

Paltalk (NASDAQ:PALT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter. The firm had revenue of $2.12 million during the quarter. Paltalk had a negative net margin of 33.40% and a negative return on equity of 16.46%.

Insider Activity

In related news, CEO Jason Katz acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were purchased at an average cost of $2.73 per share, for a total transaction of $68,250.00. Following the acquisition, the chief executive officer now owns 650,912 shares in the company, valued at $1,776,989.76. The trade was a 3.99 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.70% of the company’s stock.

Institutional Investors Weigh In On Paltalk

A number of large investors have recently made changes to their positions in PALT. Virtu Financial LLC bought a new stake in shares of Paltalk in the first quarter valued at approximately $75,000. GSA Capital Partners LLP bought a new position in shares of Paltalk in the 3rd quarter worth $65,000. Finally, Renaissance Technologies LLC increased its position in shares of Paltalk by 11.1% in the 2nd quarter. Renaissance Technologies LLC now owns 25,000 shares of the company’s stock valued at $100,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 3.88% of the company’s stock.

About Paltalk

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.