Paltalk, Inc. (NASDAQ:PALT) Sees Large Drop in Short Interest

Paltalk, Inc. (NASDAQ:PALT) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 25,800 shares, a decline of 20.6% from the November 30th total of 32,500 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 53,800 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Paltalk

An institutional investor recently raised its position in Paltalk stock. Renaissance Technologies LLC boosted its holdings in shares of Paltalk, Inc. (NASDAQ:PALT) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,000 shares of the company’s stock after acquiring an additional 2,500 shares during the period. Renaissance Technologies LLC owned about 0.27% of Paltalk worth $100,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.88% of the company’s stock.

Paltalk Stock Up 23.6 %

NASDAQ PALT traded up $0.41 during mid-day trading on Friday, hitting $2.15. The stock had a trading volume of 251,048 shares, compared to its average volume of 82,767. The company has a 50 day simple moving average of $1.89 and a 200 day simple moving average of $3.07. The company has a market cap of $19.86 million, a price-to-earnings ratio of -6.32 and a beta of 0.86. Paltalk has a 52-week low of $1.52 and a 52-week high of $5.50.

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.