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

Paltalk, Inc. (NASDAQ:PALT) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 17,100 shares, a decline of 20.8% from the March 31st total of 21,600 shares. Based on an average trading volume of 132,200 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.3% of the shares of the company are short sold.

Paltalk Price Performance

Shares of NASDAQ PALT traded up $0.13 during trading hours on Friday, reaching $3.75. 10,608 shares of the stock were exchanged, compared to its average volume of 38,487. The stock’s fifty day simple moving average is $3.92 and its 200 day simple moving average is $3.02. Paltalk has a 52 week low of $1.53 and a 52 week high of $5.19.

Paltalk (NASDAQ:PALT) last issued its quarterly earnings data on Friday, March 15th. The company reported ($0.03) EPS for the quarter. Paltalk had a negative net margin of 9.72% and a negative return on equity of 5.25%. The firm had revenue of $2.69 million during the quarter.

Insider Buying and Selling

In other news, major shareholder J. Crew Delaware Trust B sold 12,697 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $4.97, for a total value of $63,104.09. Following the transaction, the insider now directly owns 1,477,423 shares of the company’s stock, valued at $7,342,792.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 23,349 shares of company stock valued at $116,002. 17.80% of the stock is owned by insiders.

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.