JOYY (NASDAQ:YY) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

JOYY Inc. (NASDAQ:YY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $62.61 and traded as high as $68.69. JOYY shares last traded at $68.25, with a volume of 342,925 shares trading hands.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “buy” rating on shares of JOYY in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $66.00.

JOYY Stock Performance

The stock has a market cap of $3.65 billion, a PE ratio of 20.49 and a beta of 0.21. The stock has a fifty day moving average price of $61.02 and a 200 day moving average price of $62.65.

Hedge Funds Weigh In On JOYY

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of JOYY in the 2nd quarter worth approximately $62,000. Ameriprise Financial Inc. boosted its holdings in shares of JOYY by 3.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,338 shares of the information services provider’s stock worth $263,000 after purchasing an additional 218 shares during the period. Nomura Holdings Inc. purchased a new position in shares of JOYY in the 2nd quarter worth approximately $399,000. Hsbc Holdings PLC boosted its holdings in shares of JOYY by 139.2% in the 2nd quarter. Hsbc Holdings PLC now owns 12,118 shares of the information services provider’s stock worth $504,000 after purchasing an additional 7,053 shares during the period. Finally, AXA S.A. boosted its holdings in shares of JOYY by 21.6% in the 2nd quarter. AXA S.A. now owns 13,792 shares of the information services provider’s stock worth $573,000 after purchasing an additional 2,446 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

About JOYY

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.