JOYY (NASDAQ:YY) Upgraded by StockNews.com to "Buy" Rating

StockNews.com upgraded shares of JOYY (NASDAQ:YY - Free Report) from a hold rating to a buy rating in a research report released on Wednesday.

Separately, Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.

JOYY Price Performance

NASDAQ YY traded down $0.36 during mid-day trading on Wednesday, hitting $46.79. The stock had a trading volume of 822,464 shares, compared to its average volume of 512,589. JOYY has a twelve month low of $27.88 and a twelve month high of $55.31. The firm's 50 day moving average is $43.91 and its 200 day moving average is $38.70. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 14.14 and a beta of 0.28.

Institutional Trading of JOYY

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in JOYY by 45.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider's stock valued at $3,615,000 after acquiring an additional 31,341 shares during the period. Cape Ann Asset Management Ltd grew its stake in shares of JOYY by 47.8% in 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 acquiring an additional 154,200 shares in the last quarter. FMR LLC grew its stake in shares of JOYY by 4.3% in the third quarter. FMR LLC now owns 678,551 shares of the information services provider's stock worth $24,591,000 after acquiring an additional 28,126 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of JOYY in the third quarter valued at $725,000. Finally, Ritholtz Wealth Management boosted its holdings in JOYY by 69.1% in the fourth quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider's stock valued at $1,550,000 after purchasing an additional 15,127 shares during the period. Hedge funds and other institutional investors own 36.83% of the company's stock.

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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.