JOYY (NASDAQ:JOYY) Stock Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• JOYY shares rose above their 50-day moving average, reaching $81.12 and last trading at $80.83, compared with a 50-day average of $78.82.
• Analyst sentiment is broadly positive: six analysts rate JOYY a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $83.40. JPMorgan recently upgraded the stock to Overweight and raised its target to $98.
• JOYY increased its quarterly dividend to $1.55 per share, equivalent to an annualized $6.20 and a 7.7% yield, though its payout ratio is high at 147.49%.

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Get Free Report) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $78.82 and traded as high as $81.12. JOYY shares last traded at $80.83, with a volume of 366,442 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded JOYY from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $35.00 to $98.00 in a research report on Wednesday, August 12th. Benchmark reissued a "buy" rating on shares of JOYY in a research note on Wednesday, August 26th. Jefferies Financial Group restated a "buy" rating and set a $87.00 target price on shares of JOYY in a report on Wednesday, August 26th. Citigroup restated a "buy" rating on shares of JOYY in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised shares of JOYY from a "hold (c-)" rating to a "buy (b)" rating in a research note on Friday, August 28th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.40.

JOYY Price Performance

The company has a market cap of $3.96 billion, a price-to-earnings ratio of 19.29 and a beta of 0.38. The stock has a 50-day moving average price of $78.82 and a 200 day moving average price of $68.32.

JOYY Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from JOYY's previous quarterly dividend of $1.50. JOYY's dividend payout ratio (DPR) is currently 147.49%.

Institutional Investors Weigh In On JOYY

Several large investors have recently made changes to their positions in JOYY. Moody Aldrich Partners LLC acquired a new position in JOYY in the 3rd quarter worth $933,000. Asset Management One Co. Ltd. acquired a new position in shares of JOYY during the third quarter worth about $2,383,000. Signaturefd LLC acquired a new position in shares of JOYY during the third quarter worth about $266,000. Ramsey Quantitative Systems bought a new position in shares of JOYY during the third quarter worth about $45,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of JOYY during the third quarter worth about $31,000. Institutional investors own 36.83% of the company's stock.

About JOYY

JOYY Inc NASDAQ: JOYY is a global technology company that operates video-based social media and live-streaming platforms. The company's services enable users to share live video, create and view short-form content, communicate through messaging and voice services, and participate in online communities.

JOYY's principal products include BIGO LIVE, a live-streaming platform; Likee, a short-form video and creation platform; and imo, an instant messaging and voice and video communication service.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.