JOYY (NASDAQ:YY) Trading Up 1.5% – What’s Next?

JOYY Inc. (NASDAQ:YY) shot up 1.5% during mid-day trading on Friday . The stock traded as high as $42.60 and last traded at $42.28. 107,817 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 496,695 shares. The stock had previously closed at $41.64.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their price objective on JOYY from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd.

JOYY Trading Up 1.4 %

The stock has a market capitalization of $2.27 billion, a P/E ratio of 12.76 and a beta of 0.27. The stock’s fifty day moving average price is $37.14 and its two-hundred day moving average price is $34.93.

Institutional Trading of JOYY

Institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its holdings in shares of JOYY by 10.0% during the second quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider’s stock worth $21,990,000 after purchasing an additional 66,474 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in JOYY by 45.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock worth $3,615,000 after buying an additional 31,341 shares during the period. FMR LLC grew its position in shares of JOYY by 4.3% in the 3rd quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock worth $24,591,000 after buying an additional 28,126 shares during the last quarter. Krane Funds Advisors LLC increased its stake in shares of JOYY by 10.5% during the second quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock valued at $42,561,000 after buying an additional 134,394 shares during the period. Finally, Cape Ann Asset Management Ltd raised its holdings in shares of JOYY by 47.8% during the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock valued at $17,283,000 after acquiring an additional 154,200 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

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.