HUYA (NYSE:HUYA) Shares Gap Up – Time to Buy?

Shares of HUYA Inc. Sponsored ADR (NYSE:HUYA) gapped up prior to trading on Wednesday . The stock had previously closed at $3.02, but opened at $3.14. HUYA shares last traded at $3.1850, with a volume of 391,404 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HSBC raised shares of HUYA from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Wednesday, November 5th. Hsbc Global Res raised HUYA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of HUYA in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, HUYA currently has an average rating of “Hold” and a consensus target price of $3.50.

HUYA Price Performance

The stock has a market capitalization of $798.68 million, a P/E ratio of -39.72 and a beta of 0.80. The stock has a 50 day moving average price of $2.91 and a 200-day moving average price of $3.13.

HUYA (NYSE:HUYA) last released its earnings results on Wednesday, November 12th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. HUYA had a positive return on equity of 0.73% and a negative net margin of 2.63%.The company had revenue of $215.93 million during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the company posted $0.34 EPS. HUYA’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts predict that HUYA Inc. Sponsored ADR will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HUYA

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vident Advisory LLC grew its stake in shares of HUYA by 39.5% in the first quarter. Vident Advisory LLC now owns 17,624 shares of the company’s stock worth $57,000 after purchasing an additional 4,993 shares during the last quarter. Loomis Sayles & Co. L P raised its position in HUYA by 327.0% during the 2nd quarter. Loomis Sayles & Co. L P now owns 10,273 shares of the company’s stock valued at $36,000 after purchasing an additional 7,867 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in HUYA by 10.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,694 shares of the company’s stock worth $497,000 after buying an additional 14,456 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of HUYA by 8.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 245,295 shares of the company’s stock worth $817,000 after buying an additional 19,353 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of HUYA by 0.9% during the first quarter. Acadian Asset Management LLC now owns 3,067,145 shares of the company’s stock valued at $9,835,000 after buying an additional 27,582 shares during the period. 23.20% of the stock is owned by institutional investors.

HUYA Company Profile

HUYA Inc is a leading interactive live streaming platform based in Guangzhou, China, primarily focused on video game and esports content. The company operates a proprietary technology platform that enables users to broadcast and view live gameplay, participate in real-time chat, and engage with hosts through virtual gifting. Its services are accessible via web browsers, desktop applications and mobile apps for both iOS and Android.

At the core of HUYA’s business are user-generated live streams hosted by professional gamers, influencers and esports organizations.