JOYY (NASDAQ:YY) Sets New 52-Week Low at $28.06

JOYY Inc. (NASDAQ:YY - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $28.06 and last traded at $28.09, with a volume of 8095 shares trading hands. The stock had previously closed at $28.15.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on YY shares. StockNews.com cut shares of JOYY from a "buy" rating to a "hold" rating in a research note on Saturday, May 11th. Bank of America reaffirmed a "neutral" rating and set a $35.00 price target on shares of JOYY in a research report on Monday, March 25th.

JOYY Stock Performance

The company's fifty day moving average is $32.12 and its 200-day moving average is $33.06. The company has a market capitalization of $1.72 billion, a PE ratio of 5.31 and a beta of 0.25.

JOYY (NASDAQ:YY - Get Free Report) last released its earnings results on Tuesday, May 28th. The information services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.19. The company had revenue of $564.56 million during the quarter, compared to analyst estimates of $553.36 million. JOYY had a net margin of 14.19% and a return on equity of 5.47%. During the same period in the prior year, the firm posted $0.57 EPS. On average, sell-side analysts expect that JOYY Inc. will post 3.51 EPS for the current fiscal year.

Institutional Investors Weigh In On JOYY

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in JOYY by 497,089.5% during the 3rd quarter. FMR LLC now owns 2,709,683 shares of the information services provider's stock valued at $103,266,000 after buying an additional 2,709,138 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of JOYY by 18.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,721,881 shares of the information services provider's stock valued at $65,590,000 after acquiring an additional 273,875 shares during the last quarter. Krane Funds Advisors LLC boosted its position in shares of JOYY by 14.3% during the 3rd quarter. Krane Funds Advisors LLC now owns 1,393,184 shares of the information services provider's stock valued at $53,094,000 after acquiring an additional 174,774 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in JOYY by 4.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,008,508 shares of the information services provider's stock worth $40,038,000 after buying an additional 45,232 shares during the last quarter. Finally, Yunqi Capital Ltd lifted its position in JOYY by 52.8% in the first quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider's stock worth $24,083,000 after buying an additional 270,564 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

About JOYY

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.