JOYY (NASDAQ:JOYY) Trading 1.5% Higher – Here’s What Happened

JOYY Inc. Sponsored ADR (NASDAQ:JOYY)’s share price shot up 1.5% during trading on Friday . The company traded as high as $63.89 and last traded at $63.09. 381,076 shares traded hands during trading, a decline of 7% from the average session volume of 409,320 shares. The stock had previously closed at $62.13.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JOYY shares. Zacks Research upgraded JOYY from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. Morgan Stanley set a $66.00 price target on shares of JOYY in a report on Monday, November 24th. Weiss Ratings restated a “hold (c-)” rating on shares of JOYY in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of JOYY from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Citigroup boosted their target price on shares of JOYY from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, JOYY currently has a consensus rating of “Buy” and an average target price of $72.00.

JOYY Price Performance

The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 1.95 and a beta of 0.39. The business’s fifty day moving average price is $65.64.

JOYY Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, January 13th. Investors of record on Friday, January 2nd were issued a $0.97 dividend. This is a boost from JOYY’s previous dividend of $0.95. The ex-dividend date of this dividend was Friday, January 2nd. JOYY’s payout ratio is 11.94%.

Institutional Investors Weigh In On JOYY

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new position in shares of JOYY in the third quarter worth $27,000. Sittner & Nelson LLC bought a new position in JOYY in the 3rd quarter worth about $29,000. Farther Finance Advisors LLC purchased a new position in JOYY during the 3rd quarter valued at about $35,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of JOYY during the third quarter valued at about $87,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of JOYY during the third quarter valued at about $142,000. Institutional investors own 36.83% of the company’s stock.

JOYY Company Profile

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.