JOYY (NASDAQ:YY) Lowered to Neutral at BOCOM International

BOCOM International cut shares of JOYY (NASDAQ:YY) from a buy rating to a neutral rating in a research note published on Wednesday, FlyOnTheWall reports.

Separately, StockNews.com initiated coverage on JOYY in a report on Thursday, August 17th. They set a hold rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $41.50.

JOYY Trading Up 0.4 %

Shares of JOYY stock opened at $34.09 on Wednesday. The company’s fifty day simple moving average is $32.57 and its 200-day simple moving average is $30.84. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 23.03 and a beta of 0.60. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.07. JOYY has a 1 year low of $21.38 and a 1 year high of $39.50.

JOYY (NASDAQ:YY) last posted its quarterly earnings results on Tuesday, May 30th. The information services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.32. JOYY had a net margin of 7.77% and a return on equity of 3.72%. The firm had revenue of $583.63 million for the quarter, compared to the consensus estimate of $562.76 million. As a group, sell-side analysts expect that JOYY will post 0.39 EPS for the current year.

Institutional Trading of JOYY

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors L.P. grew its position in shares of JOYY by 10.3% during the 2nd quarter. Natixis Advisors L.P. now owns 19,253 shares of the information services provider’s stock worth $591,000 after buying an additional 1,804 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of JOYY in the 2nd quarter valued at approximately $431,000. Prevail Innovative Wealth Advisors LLC bought a new stake in JOYY in the 2nd quarter valued at approximately $1,073,000. Quadrature Capital Ltd bought a new stake in JOYY in the 2nd quarter valued at approximately $582,000. Finally, Renaissance Technologies LLC bought a new stake in JOYY in the 2nd quarter valued at approximately $5,884,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.