StockNews.com Begins Coverage on JOYY (NASDAQ:YY)

Investment analysts at StockNews.com assumed coverage on shares of JOYY (NASDAQ:YY) in a report released on Friday. The firm set a “hold” rating on the information services provider’s stock.

Separately, Benchmark raised JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

JOYY Stock Performance

Shares of NASDAQ YY opened at $40.73 on Friday. JOYY has a 1 year low of $27.88 and a 1 year high of $55.31. The stock has a fifty day moving average price of $43.93 and a two-hundred day moving average price of $40.91. The firm has a market cap of $2.19 billion, a P/E ratio of 12.31 and a beta of 0.21.

Institutional Investors Weigh In On JOYY

Large investors have recently modified their holdings of the stock. Wealthquest Corp acquired a new stake in shares of JOYY during the first quarter valued at approximately $16,137,000. E Fund Management Hong Kong Co. Ltd. raised its stake in JOYY by 179.8% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19,723 shares of the information services provider’s stock valued at $828,000 after purchasing an additional 12,673 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of JOYY in the first quarter valued at $253,000. QRG Capital Management Inc. lifted its holdings in shares of JOYY by 45.1% in the first quarter. QRG Capital Management Inc. now owns 9,585 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 2,980 shares in the last quarter. Finally, D Orazio & Associates Inc. acquired a new stake in shares of JOYY in the first quarter worth $235,000. 36.83% of the stock is owned by institutional investors.

JOYY Company Profile

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.