JOYY Inc. (NASDAQ:YY – Get Free Report)’s stock price passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $78.70 and traded as low as $72.06. JOYY shares last traded at $75.41, with a volume of 592,281 shares traded.
Analyst Ratings Changes
Separately, The Goldman Sachs Group raised JOYY to a “buy” rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, JOYY has a consensus rating of “Buy” and a consensus price target of $66.00.
JOYY Stock Down 4.7%
The business’s fifty day moving average price is $78.70 and its 200 day moving average price is $68.26. The firm has a market capitalization of $4.06 billion, a PE ratio of 22.78 and a beta of 0.21.
Hedge Funds Weigh In On JOYY
Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new stake in JOYY during the 2nd quarter valued at approximately $9,572,000. Public Employees Retirement System of Ohio acquired a new stake in JOYY during the 2nd quarter worth approximately $8,973,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in JOYY during the 3rd quarter worth approximately $3,893,000. Vise Technologies Inc. acquired a new stake in JOYY during the 3rd quarter worth approximately $311,000. Finally, Pinnacle Holdings LLC purchased a new position in shares of JOYY in the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds own 36.83% of the company’s stock.
JOYY Company Profile
JOYY Inc (NASDAQ:YY) is a global technology company that develops social media, live-streaming, short-form video, instant messaging and online entertainment platforms. The company was formerly known as YY Inc and adopted the JOYY name in 2019 as it expanded its focus beyond its original Chinese live-streaming business.
Its principal products include Bigo Live, a live-streaming platform; Likee, a short-form video and social networking application; imo, an instant messaging and voice and video communication service; and Hago, a social gaming and entertainment platform.
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