JOYY (NASDAQ:YY) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

JOYY Inc. (NASDAQ:YY)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $60.11 and traded as high as $65.46. JOYY shares last traded at $64.0950, with a volume of 459,464 shares traded.

Analyst Upgrades and Downgrades

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

JOYY Price Performance

The firm has a 50-day simple moving average of $65.71 and a 200 day simple moving average of $60.11. The company has a market capitalization of $3.45 billion, a PE ratio of 19.36 and a beta of 0.21.

Hedge Funds Weigh In On JOYY

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new position in shares of JOYY in the second quarter valued at $739,000. Vise Technologies Inc. acquired a new position in JOYY in the 2nd quarter worth $302,000. Farther Finance Advisors LLC lifted its holdings in JOYY by 5,718.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider’s stock worth $27,000 after buying an additional 629 shares in the last quarter. MY.Alpha Management HK Advisors Ltd boosted its position in JOYY by 176.2% in the 2nd quarter. MY.Alpha Management HK Advisors Ltd now owns 351,957 shares of the information services provider’s stock valued at $14,624,000 after buying an additional 224,530 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of JOYY during the second quarter valued at about $262,000. 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.