Paltalk (NASDAQ:PALT) Trading 2.8% Higher – Here’s Why

Shares of Paltalk, Inc. (NASDAQ:PALT) shot up 2.8% on Wednesday . The stock traded as high as $1.88 and last traded at $1.86. 26,902 shares traded hands during trading, a decline of 82% from the average session volume of 153,572 shares. The stock had previously closed at $1.81.

Paltalk Stock Up 2.8 %

The stock has a fifty day moving average price of $1.91 and a two-hundred day moving average price of $2.74. The company has a market cap of $17.18 million, a price-to-earnings ratio of -5.47 and a beta of 0.91.

Institutional Trading of Paltalk

An institutional investor recently bought a new position in Paltalk stock. GSA Capital Partners LLP bought a new position in shares of Paltalk, Inc. (NASDAQ:PALT) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,000 shares of the company’s stock, valued at approximately $65,000. GSA Capital Partners LLP owned 0.22% of Paltalk at the end of the most recent quarter. 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.