JOYY (NASDAQ:YY) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

JOYY Inc. (NASDAQ:YY) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $59.08 and traded as high as $70.25. JOYY shares last traded at $69.49, with a volume of 470,819 shares trading hands.

Wall Street Analyst Weigh In

Separately, Morgan Stanley set a $66.00 price objective on shares of JOYY in a report on Monday, November 24th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $66.00.

JOYY Stock Performance

The stock has a market capitalization of $3.74 billion, a PE ratio of 20.99 and a beta of 0.21. The stock’s 50 day moving average is $64.38 and its two-hundred day moving average is $59.08.

Hedge Funds Weigh In On JOYY

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. increased 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 worth $263,000 after buying an additional 218 shares during the period. Aberdeen Group plc grew its position in shares of JOYY by 2.9% during the second quarter. Aberdeen Group plc now owns 13,535 shares of the information services provider’s stock worth $562,000 after acquiring an additional 376 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of JOYY by 0.9% in the 2nd quarter. American Century Companies Inc. now owns 64,618 shares of the information services provider’s stock valued at $2,685,000 after acquiring an additional 546 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of JOYY by 5,718.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 629 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in JOYY by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 128,826 shares of the information services provider’s stock valued at $5,353,000 after purchasing an additional 1,115 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

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.