JOYY (NASDAQ:YY) Shares Gap Down – Time to Sell?

Shares of JOYY Inc. (NASDAQ:YY) gapped down before the market opened on Thursday . The stock had previously closed at $46.88, but opened at $42.77. JOYY shares last traded at $42.84, with a volume of 1,215,068 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on YY shares. StockNews.com lowered JOYY from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark raised JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

JOYY Stock Performance

The firm has a market cap of $2.25 billion, a P/E ratio of 12.62 and a beta of 0.21. The stock has a fifty day simple moving average of $45.92 and a 200 day simple moving average of $39.94.

Institutional Trading of JOYY

Several large investors have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of JOYY by 1.3% in the third quarter. Barclays PLC now owns 20,543 shares of the information services provider’s stock worth $744,000 after acquiring an additional 270 shares during the period. Natixis Advisors LLC grew its holdings in shares of JOYY by 1.7% in the third quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock worth $769,000 after acquiring an additional 352 shares during the period. Global Retirement Partners LLC grew its holdings in shares of JOYY by 71.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock worth $45,000 after acquiring an additional 447 shares during the period. Rhumbline Advisers grew its holdings in shares of JOYY by 63.0% in the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after acquiring an additional 510 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of JOYY in the fourth quarter worth $25,000. Institutional investors own 36.83% of the company’s stock.

About JOYY

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.