JOYY (NASDAQ:YY) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of JOYY Inc. (NASDAQ:YY) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $59.70 and traded as high as $70.1250. JOYY shares last traded at $68.5650, with a volume of 216,540 shares traded.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley set a $66.00 price target on JOYY in a research note on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, JOYY currently has an average rating of “Buy” and a consensus price target of $66.00.

JOYY Stock Performance

The stock’s 50-day moving average price is $65.46 and its 200-day moving average price is $59.70. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 20.71 and a beta of 0.21.

Institutional Trading of JOYY

Several large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in shares of JOYY by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 6,338 shares of the information services provider’s stock valued at $263,000 after buying an additional 218 shares in the last quarter. Aberdeen Group plc grew its stake in JOYY by 2.9% in the 2nd quarter. Aberdeen Group plc now owns 13,535 shares of the information services provider’s stock valued at $562,000 after acquiring an additional 376 shares during the last quarter. American Century Companies Inc. increased its holdings in JOYY by 0.9% during 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 in the last quarter. Farther Finance Advisors LLC raised its position 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 acquiring an additional 629 shares during the last quarter. Finally, D Orazio & Associates Inc. raised its position in JOYY by 22.0% during the second quarter. D Orazio & Associates Inc. now owns 6,842 shares of the information services provider’s stock worth $284,000 after acquiring an additional 1,233 shares during the last quarter. Institutional investors and hedge funds 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.