JOYY (NASDAQ:YY) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

JOYY Inc. (NASDAQ:YY) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $60.94 and traded as high as $62.20. JOYY shares last traded at $61.98, with a volume of 197,901 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley set a $66.00 target price on shares of JOYY in a report on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, JOYY currently has an average rating of “Buy” and an average price target of $66.00.

JOYY Stock Performance

The firm’s fifty day simple moving average is $65.57 and its 200 day simple moving average is $61.01. The stock has a market capitalization of $3.37 billion, a P/E ratio of 18.90 and a beta of 0.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in shares of JOYY by 177.2% during the second quarter. Invesco Ltd. now owns 572,827 shares of the information services provider’s stock worth $23,801,000 after purchasing an additional 366,173 shares during the period. Nan Fung Trinity HK Ltd. bought a new position in JOYY during the 2nd quarter worth $11,538,000. MY.Alpha Management HK Advisors Ltd lifted its holdings in JOYY by 176.2% during the 2nd quarter. MY.Alpha Management HK Advisors Ltd now owns 351,957 shares of the information services provider’s stock worth $14,624,000 after buying an additional 224,530 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of JOYY by 118.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 296,334 shares of the information services provider’s stock valued at $12,313,000 after buying an additional 160,676 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of JOYY in the second quarter valued at about $6,373,000. 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.