HUYA (NYSE:HUYA) Shares Gap Up - Here's What Happened

Shares of HUYA Inc. (NYSE:HUYA - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $3.03, but opened at $3.50. HUYA shares last traded at $3.34, with a volume of 1,386,497 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HUYA shares. Hsbc Global Res downgraded HUYA from a "strong-buy" rating to a "hold" rating in a report on Friday, October 11th. HSBC restated a "hold" rating and set a $4.70 price objective on shares of HUYA in a research note on Friday, October 11th. Bank of America cut shares of HUYA from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $5.80 to $4.00 in a report on Wednesday, November 6th. Finally, Citigroup decreased their target price on shares of HUYA from $5.90 to $5.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $5.68.

HUYA Price Performance

The business's fifty day simple moving average is $3.09 and its two-hundred day simple moving average is $3.84. The company has a market cap of $748.16 million, a PE ratio of -36.72 and a beta of 0.62.

HUYA (NYSE:HUYA - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.30. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. HUYA had a positive return on equity of 0.30% and a negative net margin of 2.51%. The company's quarterly revenue was down 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS. As a group, analysts predict that HUYA Inc. will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Quantbot Technologies LP grew its stake in HUYA by 18.9% in the 3rd quarter. Quantbot Technologies LP now owns 23,224 shares of the company's stock valued at $118,000 after acquiring an additional 3,685 shares during the period. Smith Anglin Financial LLC grew its position in shares of HUYA by 27.9% in the fourth quarter. Smith Anglin Financial LLC now owns 18,367 shares of the company's stock valued at $56,000 after purchasing an additional 4,002 shares during the period. Seldon Capital LP purchased a new stake in shares of HUYA during the third quarter worth about $51,000. Athos Capital Ltd increased its stake in shares of HUYA by 9.5% during the third quarter. Athos Capital Ltd now owns 127,346 shares of the company's stock worth $649,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of HUYA by 11.9% during the 3rd quarter. Wellington Management Group LLP now owns 103,852 shares of the company's stock worth $530,000 after purchasing an additional 11,054 shares during the last quarter. 23.20% of the stock is owned by institutional investors and hedge funds.

HUYA Company Profile

HUYA Inc, together with its subsidiaries, operates game live streaming platforms in the People's Republic of China. Its platforms enable broadcasters and viewers to interact during live streaming. The company's live streaming content also covers other entertainment content, such as talent shows, anime, outdoor activities, live chats, and other genres.