JOYY (NASDAQ:YY) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

JOYY Inc. (NASDAQ:YY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $62.61 and traded as high as $68.69. JOYY shares last traded at $68.25, with a volume of 342,925 shares.

Analyst Upgrades and Downgrades

Separately, Benchmark reaffirmed a “buy” rating on shares of JOYY in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, JOYY currently has a consensus rating of “Buy” and an average target price of $66.00.

JOYY Price Performance

The firm’s 50 day moving average is $60.82 and its 200 day moving average is $62.61. The company has a market capitalization of $3.67 billion, a PE ratio of 20.62 and a beta of 0.21.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in YY. Raymond James Financial Inc. purchased a new position in JOYY during the 2nd quarter valued at $62,000. Ameriprise Financial Inc. increased its position in JOYY by 3.6% during the 2nd 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 position in JOYY during the 2nd quarter valued at $399,000. Hsbc Holdings PLC increased its position in JOYY by 139.2% during 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 period. Finally, AXA S.A. increased its position in JOYY by 21.6% during 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 period. 36.83% of the stock is owned by hedge funds and other 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.