HUYA (NYSE:HUYA) Shares Gap Down – Here’s What Happened

HUYA Inc. Sponsored ADR (NYSE:HUYA)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $2.35, but opened at $2.27. HUYA shares last traded at $2.2950, with a volume of 188,545 shares changing hands.

Analysts Set New Price Targets

Several research firms recently issued reports on HUYA. Morgan Stanley set a $3.40 price objective on shares of HUYA in a research note on Wednesday, February 25th. Zacks Research downgraded HUYA from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of HUYA in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.45.

HUYA Stock Performance

The stock has a market cap of $508.53 million, a P/E ratio of -37.91 and a beta of 0.85. The firm has a 50 day moving average of $2.86 and a two-hundred day moving average of $3.27.

HUYA (NYSE:HUYA) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). HUYA had a positive return on equity of 0.40% and a negative net margin of 1.76%.The business had revenue of $250.68 million during the quarter, compared to the consensus estimate of $251.85 million. On average, sell-side analysts anticipate that HUYA Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

HUYA announced that its Board of Directors has initiated a stock repurchase program on Wednesday, March 18th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On HUYA

A hedge fund recently raised its stake in HUYA stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of HUYA Inc. Sponsored ADR (NYSE:HUYA) by 10.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,694 shares of the company’s stock after purchasing an additional 14,456 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.07% of HUYA worth $497,000 at the end of the most recent quarter. 23.20% of the stock is owned by hedge funds and other institutional investors.

About HUYA

HUYA Inc is a leading interactive live streaming platform based in Guangzhou, China, primarily focused on video game and esports content. The company operates a proprietary technology platform that enables users to broadcast and view live gameplay, participate in real-time chat, and engage with hosts through virtual gifting. Its services are accessible via web browsers, desktop applications and mobile apps for both iOS and Android.

At the core of HUYA’s business are user-generated live streams hosted by professional gamers, influencers and esports organizations.