JOYY (NASDAQ:YY) Shares Pass Above 200-Day Moving Average – What’s Next?

JOYY Inc. (NASDAQ:YY) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $62.78 and traded as high as $66.88. JOYY shares last traded at $65.72, with a volume of 498,296 shares trading hands.

Analyst Ratings Changes

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

JOYY Stock Down 1.1%

The firm has a market cap of $3.54 billion, a PE ratio of 19.86 and a beta of 0.21. The firm’s fifty day simple moving average is $61.88 and its two-hundred day simple moving average is $62.78.

Institutional Investors Weigh In On JOYY

A number of institutional investors have recently bought and sold shares of YY. Raymond James Financial Inc. bought a new stake in JOYY during the second quarter valued at about $62,000. Ameriprise Financial Inc. boosted its stake 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 acquiring an additional 218 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of JOYY during the second quarter worth about $399,000. Hsbc Holdings PLC grew its position in shares of 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 purchasing an additional 7,053 shares in the last quarter. Finally, AXA S.A. raised its stake 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. Hedge funds and other institutional investors own 36.83% of the company’s stock.

About JOYY

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.