JOYY (NASDAQ:YY) Reaches New 1-Year High - What's Next?

JOYY Inc. (NASDAQ:YY - Get Free Report) shares hit a new 52-week high on Saturday . The stock traded as high as $42.88 and last traded at $42.23, with a volume of 498616 shares. The stock had previously closed at $41.64.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price target on JOYY from $30.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, September 3rd.

JOYY Trading Up 1.4 %

The firm has a market capitalization of $2.27 billion, a P/E ratio of 12.76 and a beta of 0.27. The stock has a 50 day simple moving average of $37.14 and a 200-day simple moving average of $34.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd increased its stake in shares of JOYY by 22.3% during the second quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider's stock valued at $90,952,000 after buying an additional 552,082 shares during the period. Krane Funds Advisors LLC grew its stake in JOYY by 10.5% in the second quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider's stock valued at $42,561,000 after purchasing an additional 134,394 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in JOYY by 10.0% in the second quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider's stock worth $21,990,000 after purchasing an additional 66,474 shares in the last quarter. FMR LLC lifted its position in shares of JOYY by 4.3% during the third quarter. FMR LLC now owns 678,551 shares of the information services provider's stock valued at $24,591,000 after buying an additional 28,126 shares during the last quarter. Finally, Whitefort Capital Management LP lifted its position in shares of JOYY by 168.3% during the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider's stock valued at $20,507,000 after buying an additional 354,932 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

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.