DouYu International (NASDAQ:DOYU) Stock Price Up 7.5% - Here's Why

Key Points

• DouYu International's stock price increased by 7.5%, reaching a peak of $9.21 during trading, following a previous close of $8.49.
• Citigroup has downgraded DouYu's target price from $10.50 to $7.00 and assigned a "neutral" rating.
• The company reported a quarterly earnings per share of ($0.10), surpassing analyst expectations of ($0.25), despite a negative net margin of 6.85%.

Shares of DouYu International Holdings Limited Sponsored ADR (NASDAQ:DOYU - Get Free Report) shot up 7.5% during trading on Monday . The stock traded as high as $9.21 and last traded at $9.13. 85,150 shares were traded during mid-day trading, an increase of 28% from the average session volume of 66,702 shares. The stock had previously closed at $8.49.

Wall Street Analyst Weigh In

Separately, Citigroup reduced their price target on shares of DouYu International from $10.50 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th.

DouYu International Stock Performance

The firm has a market capitalization of $244.45 million, a P/E ratio of -6.23 and a beta of 0.70. The business's fifty day moving average price is $7.20 and its two-hundred day moving average price is $8.80.

DouYu International (NASDAQ:DOYU - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.15. The business had revenue of $130.54 million for the quarter, compared to analysts' expectations of $997.20 million. DouYu International had a negative net margin of 6.85% and a negative return on equity of 4.12%.

Institutional Investors Weigh In On DouYu International

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC increased its holdings in DouYu International by 549.6% in the 1st quarter. Acadian Asset Management LLC now owns 395,968 shares of the company's stock worth $2,948,000 after acquiring an additional 335,009 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of DouYu International during the first quarter worth $508,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of DouYu International by 10.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,676 shares of the company's stock worth $408,000 after buying an additional 5,144 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of DouYu International during the 1st quarter valued at about $331,000. Finally, Virtu Financial LLC acquired a new position in shares of DouYu International during the 1st quarter valued at about $76,000. 17.86% of the stock is currently owned by institutional investors and hedge funds.

DouYu International Company Profile

DouYu International Holdings Limited, together with its subsidiaries, operates a platform on PC and mobile apps that provides interactive games and entertainment live streaming services in the People's Republic of China. Its platform connects game developers and publishers, professional eSports teams or players and eSports tournament organizers, advertisers, and viewers.