Shares of JOYY Inc. (NASDAQ:YY – Get Free Report) crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $80.01 and traded as low as $78.00. JOYY shares last traded at $78.74, with a volume of 268,904 shares.
Analysts Set New Price Targets
Separately, The Goldman Sachs Group upgraded JOYY to a “buy” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, JOYY has an average rating of “Buy” and a consensus price target of $66.00.
JOYY Price Performance
The stock’s 50 day moving average is $80.01 and its two-hundred day moving average is $68.90. The firm has a market capitalization of $4.34 billion, a P/E ratio of 24.37 and a beta of 0.21.
Institutional Trading of JOYY
Institutional investors and hedge funds have recently made changes to their positions in the business. Pinnacle Holdings LLC acquired a new position in JOYY during the second quarter worth approximately $32,000. Global Retirement Partners LLC bought a new stake in JOYY in the third quarter valued at approximately $45,000. Advisors Asset Management Inc. bought a new stake in JOYY in the third quarter valued at approximately $78,000. Edmond DE Rothschild Holding S.A. lifted its position in shares of JOYY by 26.7% in the third quarter. Edmond DE Rothschild Holding S.A. now owns 19,000 shares of the information services provider’s stock valued at $789,000 after buying an additional 4,000 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new position in shares of JOYY during the 3rd quarter worth approximately $311,000. Institutional investors own 36.83% of the company’s stock.
About JOYY
JOYY Inc. is a technology company focused on live streaming, short-form video and online communication services. Its platforms include Bigo Live, which lets users broadcast and watch live video; Likee, a short-video creation and sharing app; and imo, a messaging and voice and video calling service. The company was founded in China as YY Inc. and adopted the JOYY name in 2019. It now serves users in markets around the world, with a focus on international audiences. Its former China-focused YY Live business was sold to Baidu in 2021.
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