JOYY Inc. (NASDAQ:YY – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $62.78 and traded as high as $66.88. JOYY shares last traded at $65.72, with a volume of 498,296 shares.
Wall Street Analysts Forecast Growth
Separately, Benchmark reaffirmed a “buy” rating on shares of JOYY in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $66.00.
Check Out Our Latest Stock Report on JOYY
JOYY Price Performance
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in JOYY in the second quarter worth about $62,000. Ameriprise Financial Inc. raised 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 valued at $263,000 after purchasing an additional 218 shares during the period. Nomura Holdings Inc. purchased a new stake in JOYY during the second quarter valued at approximately $399,000. Hsbc Holdings PLC lifted its stake in shares of JOYY by 139.2% in the 2nd quarter. Hsbc Holdings PLC now owns 12,118 shares of the information services provider’s stock valued at $504,000 after purchasing an additional 7,053 shares during the last quarter. Finally, AXA S.A. lifted its stake in shares of JOYY by 21.6% in the 2nd quarter. AXA S.A. now owns 13,792 shares of the information services provider’s stock valued at $573,000 after purchasing an additional 2,446 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.
JOYY Company Profile
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.
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