Paltalk (NASDAQ:PALT) Shares Up 2.8% – Still a Buy?

Paltalk, Inc. (NASDAQ:PALT)’s stock price rose 2.8% on Wednesday . The stock traded as high as $1.88 and last traded at $1.86. Approximately 26,902 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 153,572 shares. The stock had previously closed at $1.81.

Paltalk Price Performance

The stock has a market cap of $17.18 million, a P/E ratio of -5.47 and a beta of 0.91. The stock has a 50-day simple moving average of $1.91 and a 200-day simple moving average of $2.74.

Institutional Investors Weigh In On Paltalk

An institutional investor recently bought a new position in Paltalk stock. GSA Capital Partners LLP bought a new stake in Paltalk, Inc. (NASDAQ:PALT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,000 shares of the company’s stock, valued at approximately $65,000. GSA Capital Partners LLP owned approximately 0.22% of Paltalk at the end of the most recent reporting period. Institutional investors and hedge funds 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.