JOYY (NASDAQ:YY) Hits New 52-Week High – Time to Buy?

JOYY Inc. (NASDAQ:YY)’s share price reached a new 52-week high on Friday . The stock traded as high as $48.38 and last traded at $47.58, with a volume of 57497 shares. The stock had previously closed at $46.59.

JOYY Price Performance

The company has a market cap of $2.53 billion, a PE ratio of 14.22 and a beta of 0.28. The firm has a 50-day simple moving average of $41.90 and a two-hundred day simple moving average of $37.51.

JOYY (NASDAQ:YY) last announced its quarterly earnings data on Tuesday, November 26th. The information services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. Equities research analysts forecast that JOYY Inc. will post 3.37 EPS for the current year.

Institutional Investors Weigh In On JOYY

Hedge funds and other institutional investors have recently made changes to their positions in the business. Yunqi Capital Ltd grew its position in JOYY by 102.3% during the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock valued at $71,605,000 after acquiring an additional 865,285 shares during the period. Whitefort Capital Management LP grew its position in JOYY by 168.3% during the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock valued at $20,507,000 after acquiring an additional 354,932 shares during the period. AI Squared Management Ltd purchased a new stake in JOYY during the fourth quarter valued at about $10,362,000. Krane Funds Advisors LLC grew its position in JOYY by 12.0% during the fourth quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider’s stock valued at $62,778,000 after acquiring an additional 160,545 shares during the period. Finally, Cape Ann Asset Management Ltd lifted its stake in shares of JOYY by 47.8% during the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock worth $17,283,000 after purchasing an additional 154,200 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.