HUYA (NYSE:HUYA) Rating Lowered to “Neutral” at Bank of America

HUYA (NYSE:HUYA) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $4.00 price target on the stock, down from their prior price target of $5.80. Bank of America‘s price objective would indicate a potential upside of 28.62% from the stock’s current price.

HUYA has been the subject of a number of other research reports. HSBC reissued a “hold” rating and issued a $4.70 price objective on shares of HUYA in a research note on Friday, October 11th. Citigroup upgraded HUYA from a “sell” rating to a “buy” rating and upped their price objective for the stock from $2.40 to $6.00 in a research note on Wednesday, August 14th. Finally, Hsbc Global Res downgraded shares of HUYA from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.93.

HUYA Price Performance

Shares of HUYA stock traded down $0.19 during mid-day trading on Wednesday, hitting $3.11. The stock had a trading volume of 605,427 shares, compared to its average volume of 1,557,762. HUYA has a 12-month low of $2.92 and a 12-month high of $6.84. The firm’s 50-day moving average is $4.17 and its two-hundred day moving average is $4.41. The firm has a market capitalization of $724.88 million, a P/E ratio of -36.67 and a beta of 0.62.

HUYA (NYSE:HUYA) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.35. HUYA had a negative net margin of 2.69% and a positive return on equity of 0.53%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. The firm’s revenue for the quarter was down 16.1% compared to the same quarter last year. Analysts expect that HUYA will post 0.15 EPS for the current year.

Hedge Funds Weigh In On HUYA

Hedge funds have recently modified their holdings of the stock. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in HUYA during the 3rd quarter worth approximately $61,000. Smith Anglin Financial LLC purchased a new stake in shares of HUYA during the third quarter valued at $73,000. Bayesian Capital Management LP increased its position in shares of HUYA by 22.0% in the 1st quarter. Bayesian Capital Management LP now owns 19,374 shares of the company’s stock valued at $88,000 after acquiring an additional 3,500 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of HUYA in the first quarter worth about $222,000. Finally, Headlands Technologies LLC purchased a new position in HUYA during the 2nd quarter worth approximately $205,000. Institutional investors and hedge funds own 23.20% of the company’s stock.

About HUYA

HUYA Inc, together with its subsidiaries, operates game live streaming platforms in the People's Republic of China. Its platforms enable broadcasters and viewers to interact during live streaming. The company's live streaming content also covers other entertainment content, such as talent shows, anime, outdoor activities, live chats, and other genres.