JOYY (NASDAQ:YY) Reaches New 52-Week High – Should You Buy?

JOYY Inc. (NASDAQ:YY) hit a new 52-week high during trading on Saturday . The company traded as high as $42.88 and last traded at $42.23, with a volume of 498616 shares trading hands. The stock had previously closed at $41.64.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their target price on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd.

JOYY Trading Up 1.4 %

The stock’s 50-day moving average is $37.14 and its 200-day moving average is $34.98. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 12.76 and a beta of 0.27.

Institutional Investors Weigh In On JOYY

A number of hedge funds have recently bought and sold shares of YY. Loomis Sayles & Co. L P bought a new stake in JOYY in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC acquired a new position in shares of JOYY during the second quarter worth approximately $52,000. Northwestern Mutual Wealth Management Co. raised its stake in JOYY by 12.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock valued at $79,000 after acquiring an additional 300 shares in the last quarter. Blue Trust Inc. raised its stake in JOYY by 182.2% during the 3rd quarter. Blue Trust Inc. now owns 4,510 shares of the information services provider’s stock valued at $163,000 after acquiring an additional 2,912 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in JOYY during the 3rd quarter worth $179,000. Institutional investors and hedge funds 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.