JOYY (NASDAQ:YY) Stock Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• JOYY passed above its 200-day moving average, trading as high as $63.63 and last at $63.07 versus the 200‑day MA of $61.99 on volume of 207,253 shares.
• Analysts remain positive: Benchmark restated a "Buy" and JOYY carries a consensus "Buy" rating with a consensus price target of $66.00.
• Institutional interest and fundamentals: Market cap is about $3.4B with a P/E of 19.05 and institutional ownership of 36.83%, while hedge funds such as Man Group and LMR Partners recently added or initiated positions.

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 $61.99 and traded as high as $63.6250. JOYY shares last traded at $63.07, with a volume of 207,253 shares changing hands.

Analysts Set New Price Targets

Separately, Benchmark restated a "buy" rating on shares of JOYY in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, JOYY presently has a consensus rating of "Buy" and a consensus target price of $66.00.

JOYY Trading Up 1.5%

The firm has a 50-day simple moving average of $60.57 and a two-hundred day simple moving average of $61.99. The stock has a market cap of $3.40 billion, a P/E ratio of 19.05 and a beta of 0.21.

Hedge Funds Weigh In On JOYY

Hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. acquired a new position in JOYY in the 2nd quarter valued at $399,000. Man Group plc increased its holdings in JOYY by 128.8% in the 2nd quarter. Man Group plc now owns 32,532 shares of the information services provider's stock valued at $1,352,000 after buying an additional 18,316 shares during the period. Manatuck Hill Partners LLC bought a new position in JOYY in the 2nd quarter valued at about $2,077,000. LMR Partners LLP acquired a new position in shares of JOYY in the 2nd quarter valued at approximately $3,864,000. Finally, Ameriprise Financial Inc. raised its position in JOYY by 3.6% during the second quarter. Ameriprise Financial Inc. now owns 6,338 shares of the information services provider's stock valued at $263,000 after purchasing an additional 218 shares in the last quarter. Institutional investors own 36.83% of the company's stock.

About JOYY

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.

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