Shares of JOYY Inc. (NASDAQ:YY - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $64.37 and traded as high as $75.1250. JOYY shares last traded at $74.89, with a volume of 321,581 shares.
Analyst Upgrades and Downgrades
Separately, The Goldman Sachs Group upgraded shares of JOYY to a "buy" rating in a research report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $66.00.
Read Our Latest Research Report on YY
JOYY Stock Performance
The stock has a 50 day moving average price of $70.65 and a 200 day moving average price of $64.37. The company has a market cap of $4.03 billion, a P/E ratio of 22.63 and a beta of 0.21.
Institutional Investors Weigh In On JOYY
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pinnacle Holdings LLC acquired a new stake in JOYY in the 2nd quarter valued at about $32,000. Raymond James Financial Inc. acquired a new position in shares of JOYY in the 2nd quarter worth approximately $62,000. Ameriprise Financial Inc. raised its holdings in shares of JOYY by 3.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,338 shares of the information services provider's stock worth $263,000 after purchasing an additional 218 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of JOYY in the 2nd quarter worth approximately $399,000. Finally, Hsbc Holdings PLC raised its holdings in shares of JOYY by 139.2% in the 2nd quarter. Hsbc Holdings PLC now owns 12,118 shares of the information services provider's stock worth $504,000 after purchasing an additional 7,053 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors.
About JOYY
(
Get Free Report)
JOYY Inc NASDAQ: YY is a global technology-driven social media company specializing in video-based content creation and real-time social entertainment. The company develops and operates platforms that enable users to broadcast live video, engage with audiences and participate in interactive social communities. Its flagship global products include Bigo Live, a live-streaming application, and Likee, a short-video creation and sharing platform, which collectively support real-time interaction through virtual gifting and in-app social features.
Originally founded in Guangzhou, China in 2005 by David Xueling Li under the name YY Inc, the company pioneered real-time group communication and live streaming services in its domestic market.
Further Reading
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