JOYY (NASDAQ:YY) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of JOYY Inc. (NASDAQ:YY) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $63.88 and traded as high as $73.89. JOYY shares last traded at $73.57, with a volume of 293,610 shares.

JOYY Price Performance

The company has a 50-day simple moving average of $68.91 and a 200-day simple moving average of $63.90. The stock has a market cap of $4.03 billion, a PE ratio of 22.62 and a beta of 0.21.

Hedge Funds Weigh In On JOYY

A number of large investors have recently made changes to their positions in YY. Hsbc Holdings PLC boosted its holdings in JOYY by 139.2% during the second quarter. Hsbc Holdings PLC now owns 12,118 shares of the information services provider’s stock worth $504,000 after buying an additional 7,053 shares in the last quarter. Man Group plc increased its holdings in JOYY by 128.8% in the second quarter. Man Group plc now owns 32,532 shares of the information services provider’s stock valued at $1,352,000 after buying an additional 18,316 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of JOYY by 4.5% during the 2nd quarter. Geode Capital Management LLC now owns 71,579 shares of the information services provider’s stock valued at $2,974,000 after acquiring an additional 3,102 shares during the period. Ameriprise Financial Inc. lifted its position in shares of 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 acquiring an additional 218 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of JOYY by 177.2% during the 2nd quarter. Invesco Ltd. now owns 572,827 shares of the information services provider’s stock worth $23,801,000 after acquiring an additional 366,173 shares in the last quarter. Hedge funds and other institutional investors 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.