JOYY (NASDAQ:YY) Trading 3.6% Higher - Here's What Happened

Shares of JOYY Inc. (NASDAQ:YY - Get Free Report) traded up 3.6% during mid-day trading on Tuesday . The stock traded as high as $34.58 and last traded at $34.56. 41,329 shares were traded during trading, a decline of 92% from the average session volume of 491,186 shares. The stock had previously closed at $33.35.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on YY shares. Benchmark reaffirmed a "hold" rating on shares of JOYY in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on JOYY from $30.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, September 3rd.

JOYY Price Performance

The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 8.34 and a beta of 0.24. The stock has a 50 day moving average price of $35.14 and a two-hundred day moving average price of $33.34.

JOYY (NASDAQ:YY - Get Free Report) last released its earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.27. The firm had revenue of $565.13 million during the quarter, compared to analyst estimates of $556.82 million. JOYY had a return on equity of 4.98% and a net margin of 9.53%. As a group, research analysts expect that JOYY Inc. will post 3.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in JOYY by 182.2% during the 3rd quarter. Blue Trust Inc. now owns 4,510 shares of the information services provider's stock worth $163,000 after buying an additional 2,912 shares during the last quarter. Creative Planning purchased a new stake in JOYY during the 3rd quarter worth about $209,000. Ritholtz Wealth Management purchased a new stake in JOYY during the 3rd quarter worth about $794,000. Handelsbanken Fonder AB purchased a new stake in JOYY during the 3rd quarter worth about $272,000. Finally, SG Americas Securities LLC purchased a new stake in JOYY during the 3rd quarter worth about $179,000. 36.83% of the stock is currently 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.