JOYY Inc. (NASDAQ:YY - Get Free Report) shares rose 1.5% on Friday . The stock traded as high as $42.60 and last traded at $42.28. Approximately 107,817 shares were traded during trading, a decline of 78% from the average daily volume of 496,695 shares. The stock had previously closed at $41.64.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Benchmark reiterated a "hold" rating on shares of JOYY in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of JOYY from $30.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, September 3rd.
Check Out Our Latest Stock Report on JOYY
JOYY Stock Performance
The company has a 50-day moving average of $37.14 and a 200-day moving average of $34.89. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 12.76 and a beta of 0.27.
Institutional Investors Weigh In On JOYY
Hedge funds have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P purchased a new stake in shares of JOYY during the 3rd quarter worth $25,000. Atlas Capital Advisors LLC purchased a new stake in JOYY during the second quarter worth about $29,000. EverSource Wealth Advisors LLC acquired a new position in JOYY during the second quarter worth about $52,000. Northwestern Mutual Wealth Management Co. increased its holdings in JOYY by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider's stock valued at $79,000 after buying an additional 300 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of JOYY by 182.2% during the 3rd quarter. Blue Trust Inc. now owns 4,510 shares of the information services provider's stock valued at $163,000 after acquiring an additional 2,912 shares during the period. Institutional investors and hedge funds own 36.83% of the company's stock.
JOYY Company Profile
(
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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