JOYY (NASDAQ:YY) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

JOYY Inc. (NASDAQ:YY)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $56.14 and traded as high as $63.71. JOYY shares last traded at $62.6250, with a volume of 200,609 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley set a $66.00 target price on JOYY in a research report on Monday, November 24th. Citigroup reaffirmed a “buy” rating on shares of JOYY in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $66.00.

JOYY Trading Down 1.4%

The company has a 50 day moving average price of $60.58 and a 200-day moving average price of $56.14. The company has a market cap of $3.37 billion, a P/E ratio of 18.92 and a beta of 0.21.

Hedge Funds Weigh In On JOYY

A number of institutional investors have recently added to or reduced their stakes in YY. Farther Finance Advisors LLC boosted its position in JOYY by 5,718.2% in the second quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider’s stock valued at $27,000 after buying an additional 629 shares in the last quarter. SVB Wealth LLC bought a new position in shares of JOYY in the 1st quarter valued at $57,000. Raymond James Financial Inc. acquired a new stake in shares of JOYY during the 2nd quarter valued at $62,000. Leading Securities Co Ltd acquired a new stake in shares of JOYY during the 2nd quarter valued at $71,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in JOYY during the 2nd quarter worth $235,000. 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. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.