JOYY (NASDAQ:YY) Share Price Crosses Above 50 Day Moving Average – What’s Next?

JOYY Inc. (NASDAQ:YY) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $63.22 and traded as high as $69.76. JOYY shares last traded at $69.35, with a volume of 318,211 shares traded.

Wall Street Analysts Forecast Growth

Separately, Benchmark restated a “buy” rating on shares of JOYY in a research report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $66.00.

JOYY Stock Up 1.0%

The business’s fifty day moving average is $63.67 and its two-hundred day moving average is $63.16. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 21.23 and a beta of 0.21.

Institutional Investors Weigh In On JOYY

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of JOYY during the second quarter valued at $62,000. Ameriprise Financial Inc. raised its holdings in JOYY by 3.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,338 shares of the information services provider’s stock worth $263,000 after purchasing an additional 218 shares during the last quarter. Nomura Holdings Inc. bought a new stake in JOYY during the 2nd quarter worth about $399,000. Hsbc Holdings PLC lifted its position in JOYY by 139.2% during the 2nd quarter. Hsbc Holdings PLC now owns 12,118 shares of the information services provider’s stock valued at $504,000 after purchasing an additional 7,053 shares during the period. Finally, AXA S.A. lifted its position in JOYY by 21.6% during the 2nd quarter. AXA S.A. now owns 13,792 shares of the information services provider’s stock valued at $573,000 after purchasing an additional 2,446 shares during the period. Institutional investors own 36.83% of the company’s stock.

About JOYY

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.