DouYu International (NASDAQ:DOYU) Stock Price Down 0.8% – Here’s Why

DouYu International Holdings Limited Sponsored ADR (NASDAQ:DOYU) was down 0.8% during trading on Wednesday. The stock traded as low as $4.60 and last traded at $4.67. Approximately 16,871 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 29,670 shares. The stock had previously closed at $4.71.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DOYU. Weiss Ratings reiterated a “sell (d)” rating on shares of DouYu International in a report on Monday, August 31st. Citigroup dropped their target price on shares of DouYu International from $5.20 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, August 24th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.00.

DouYu International Price Performance

The company’s 50 day moving average is $4.56 and its two-hundred day moving average is $4.73. The firm has a market cap of $139.13 million, a P/E ratio of -28.81 and a beta of 0.91.

Institutional Trading of DouYu International

A hedge fund recently raised its position in DouYu International stock. Bank of America Corp DE increased its position in shares of DouYu International Holdings Limited Sponsored ADR (NASDAQ:DOYU) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,669 shares of the company’s stock after purchasing an additional 15,116 shares during the period. Bank of America Corp DE owned about 0.53% of DouYu International worth $802,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 17.86% of the company’s stock.

About DouYu International

DouYu International Holdings Limited operates a game-centric live-streaming platform in China through its website and mobile applications. The company enables users to watch and participate in live broadcasts focused primarily on video games and esports, while also offering entertainment and other interactive content.

DouYu’s platform connects streamers, viewers, game developers and advertisers. Its services include live game streaming, esports tournament coverage, interactive chat and community features, and content-related services.