Shares of JOYY Inc. (NASDAQ:YY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $39.18, but opened at $37.68. JOYY shares last traded at $38.68, with a volume of 922,801 shares trading hands.
Analysts Set New Price Targets
Several analysts recently weighed in on YY shares. JPMorgan Chase & Co. boosted their price objective on shares of JOYY from $30.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 3rd. Benchmark reissued a "hold" rating on shares of JOYY in a research note on Thursday, August 29th.
Check Out Our Latest Stock Analysis on JOYY
JOYY Stock Down 5.4 %
The firm has a market cap of $1.99 billion, a P/E ratio of 11.19 and a beta of 0.27. The business's 50 day moving average is $36.22 and its two-hundred day moving average is $34.34.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in JOYY by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider's stock worth $2,615,000 after acquiring an additional 877 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of JOYY during the third quarter valued at about $4,383,000. Whitefort Capital Management LP boosted its holdings in JOYY by 168.3% during the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider's stock worth $20,507,000 after purchasing an additional 354,932 shares during the last quarter. Athos Capital Ltd grew its position in JOYY by 9.4% in the 3rd quarter. Athos Capital Ltd now owns 54,900 shares of the information services provider's stock worth $1,990,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Hhlr Advisors LTD. purchased a new stake in JOYY in the 3rd quarter valued at about $1,087,000. Institutional investors and hedge funds own 36.83% of the company's stock.
About JOYY
(
Get Free Report)
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.
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