JOYY (NASDAQ:YY) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

JOYY Inc. (NASDAQ:YY) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $60.94 and traded as high as $62.20. JOYY shares last traded at $61.98, with a volume of 197,901 shares traded.

Wall Street Analysts Forecast Growth

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

JOYY Stock Performance

The company has a fifty day moving average of $65.57 and a two-hundred day moving average of $60.94. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 18.73 and a beta of 0.21.

Institutional Trading of JOYY

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of JOYY in the second quarter valued at approximately $62,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of JOYY in the 2nd quarter worth about $235,000. Qtron Investments LLC bought a new position in JOYY during the 2nd quarter valued at about $249,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of JOYY in the second quarter worth approximately $262,000. Finally, Ameriprise Financial Inc. boosted 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 worth $263,000 after purchasing an additional 218 shares during the period. 36.83% of the stock is currently owned by institutional investors.

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.