JOYY (NASDAQ:YY) Stock Passes Above 200 Day Moving Average – What’s Next?

JOYY Inc. (NASDAQ:YY)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $60.11 and traded as high as $65.46. JOYY shares last traded at $64.0950, with a volume of 459,464 shares changing hands.

Wall Street Analyst Weigh In

Separately, Morgan Stanley set a $66.00 price objective on JOYY in a research report on Monday, November 24th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, JOYY currently has an average rating of “Buy” and a consensus target price of $66.00.

JOYY Trading Down 0.8%

The stock has a market cap of $3.45 billion, a PE ratio of 19.36 and a beta of 0.21. The business has a fifty day simple moving average of $65.71 and a two-hundred day simple moving average of $60.11.

Institutional Trading of JOYY

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC grew its holdings in JOYY by 5,718.2% in the second quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider’s stock worth $27,000 after purchasing an additional 629 shares during the period. Raymond James Financial Inc. bought a new stake in shares of JOYY in the 2nd quarter worth approximately $62,000. Leading Securities Co Ltd purchased a new stake in shares of JOYY in the 2nd quarter worth approximately $71,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of JOYY in the 2nd quarter worth approximately $235,000. Finally, Qtron Investments LLC bought a new position in JOYY during the 2nd quarter valued at approximately $249,000. Institutional investors own 36.83% of the company’s stock.

JOYY Company Profile

JOYY Inc (NASDAQ:YY) is a global technology-driven social media company specializing in video-based content creation and real-time social entertainment. The company develops and operates platforms that enable users to broadcast live video, engage with audiences and participate in interactive social communities. Its flagship global products include Bigo Live, a live-streaming application, and Likee, a short-video creation and sharing platform, which collectively support real-time interaction through virtual gifting and in-app social features.

Originally founded in Guangzhou, China in 2005 by David Xueling Li under the name YY Inc, the company pioneered real-time group communication and live streaming services in its domestic market.