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

Paltalk, Inc. (NASDAQ:PALT) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 32,500 shares, a drop of 53.4% from the November 15th total of 69,700 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 52,900 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Paltalk

A hedge fund recently raised its stake in Paltalk stock. Renaissance Technologies LLC boosted its stake in shares of Paltalk, Inc. (NASDAQ:PALT) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.27% of Paltalk worth $100,000 as of its most recent SEC filing. 3.88% of the stock is owned by institutional investors and hedge funds.

Paltalk Stock Down 4.7 %

PALT traded down $0.09 on Friday, reaching $1.82. 9,973 shares of the company traded hands, compared to its average volume of 82,789. Paltalk has a one year low of $1.67 and a one year high of $5.50. The firm has a fifty day simple moving average of $2.06 and a two-hundred day simple moving average of $3.21. The company has a market cap of $16.81 million, a P/E ratio of -5.35 and a beta of 0.86.

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.