JOYY (NASDAQ:YY) Shares Pass Above 200 Day Moving Average – What’s Next?

JOYY Inc. (NASDAQ:YY) passed 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on YY. Morgan Stanley set a $66.00 price target on shares of JOYY in a research note on Monday, November 24th. Citigroup reaffirmed a “buy” rating on shares of JOYY in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, JOYY has an average rating of “Buy” and an average price target of $66.00.

JOYY Price Performance

The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 18.92 and a beta of 0.21. The business’s fifty day simple moving average is $60.58 and its 200 day simple moving average is $56.14.

Hedge Funds Weigh In On JOYY

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in JOYY by 5,718.2% during the second quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider’s stock worth $27,000 after purchasing an additional 629 shares during the last quarter. SVB Wealth LLC purchased a new stake in JOYY in the first quarter worth $57,000. Raymond James Financial Inc. bought a new stake in JOYY in the 2nd quarter valued at about $62,000. Leading Securities Co Ltd bought a new position in JOYY during the second quarter worth about $71,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of JOYY in the second quarter worth about $235,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

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.