JOYY Inc. (NASDAQ:YY) Short Interest Up 21.2% in October

JOYY Inc. (NASDAQ:YY - Get Free Report) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,110,000 shares, an increase of 21.2% from the September 30th total of 915,600 shares. Based on an average trading volume of 390,900 shares, the short-interest ratio is presently 2.8 days. Currently, 2.7% of the shares of the stock are sold short.

Institutional Trading of JOYY

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board raised its stake in JOYY by 1,758.1% in the first quarter. Canada Pension Plan Investment Board now owns 664,326 shares of the information services provider's stock valued at $20,428,000 after buying an additional 628,573 shares during the period. Point72 Hong Kong Ltd boosted its holdings in shares of JOYY by 22.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider's stock worth $90,952,000 after buying an additional 552,082 shares during the period. Jupiter Asset Management Ltd. grew its stake in JOYY by 356.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 480,000 shares of the information services provider's stock valued at $14,443,000 after buying an additional 374,800 shares during the last quarter. Yunqi Capital Ltd lifted its position in JOYY by 52.8% during the first quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider's stock worth $24,083,000 after acquiring an additional 270,564 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of JOYY by 780.9% in the second quarter. LSV Asset Management now owns 232,552 shares of the information services provider's stock valued at $6,997,000 after purchasing an additional 206,152 shares during the last quarter. Institutional investors own 36.83% of the company's stock.

JOYY Stock Down 0.4 %

Shares of JOYY stock traded down $0.12 during trading on Monday, reaching $34.00. 310,252 shares of the company were exchanged, compared to its average volume of 489,091. The business has a 50-day moving average price of $35.06 and a 200-day moving average price of $33.32. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 6.40 and a beta of 0.24. JOYY has a twelve month low of $27.88 and a twelve month high of $43.20.

JOYY (NASDAQ:YY - Get Free Report) last released its quarterly earnings data on Tuesday, August 27th. The information services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.27. The business had revenue of $565.13 million for the quarter, compared to analysts' expectations of $556.82 million. JOYY had a return on equity of 4.98% and a net margin of 9.53%. On average, equities research analysts forecast that JOYY will post 3.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of JOYY from $30.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, September 3rd. Benchmark reiterated a "hold" rating on shares of JOYY in a research report on Thursday, August 29th.

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.