Paltalk (NASDAQ:PALT) Stock Price Down 7.7% – Time to Sell?

Paltalk, Inc. (NASDAQ:PALT) shares traded down 7.7% on Monday . The stock traded as low as $2.16 and last traded at $2.16. 86,256 shares were traded during trading, a decline of 5% from the average session volume of 90,837 shares. The stock had previously closed at $2.34.

Wall Street Analysts Forecast Growth

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

Paltalk Price Performance

The firm’s 50-day moving average price is $3.25 and its 200 day moving average price is $3.62. The firm has a market capitalization of $19.46 million, a price-to-earnings ratio of -23.33 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 analysts’ consensus estimates of ($0.08) by ($0.02). The company had revenue of $2.22 million during the quarter. Paltalk had a negative return on equity of 9.58% and a negative net margin of 18.39%.

Insiders Place Their Bets

In other Paltalk news, CEO Jason Katz acquired 25,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was acquired at an average price of $2.73 per share, with a total value of $68,250.00. Following the completion of the transaction, the chief executive officer now directly owns 650,912 shares in the company, valued at approximately $1,776,989.76. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 17.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paltalk

A hedge fund recently bought a new stake in Paltalk stock. Virtu Financial LLC purchased a new stake in shares of Paltalk, Inc. (NASDAQ:PALT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,431 shares of the company’s stock, valued at approximately $75,000. Virtu Financial LLC owned approximately 0.26% of Paltalk as of its most recent SEC filing. 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.