StockNews.com Upgrades JOYY (NASDAQ:YY) to “Buy”

JOYY (NASDAQ:YY) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Separately, Benchmark raised JOYY from a “hold” rating to a “buy” rating in a report on Tuesday.

JOYY Stock Down 3.8 %

Shares of YY opened at $47.15 on Wednesday. The firm’s fifty day moving average is $43.79 and its two-hundred day moving average is $38.59. The stock has a market cap of $2.54 billion, a PE ratio of 14.24 and a beta of 0.28. JOYY has a 52-week low of $27.88 and a 52-week high of $55.31.

JOYY (NASDAQ:YY) last posted its quarterly earnings results on Tuesday, November 26th. The information services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.22. JOYY had a net margin of 9.02% and a return on equity of 4.64%. As a group, research analysts anticipate that JOYY will post 3.37 earnings per share for the current year.

Institutional Trading of JOYY

Several hedge funds have recently made changes to their positions in the company. Creative Planning acquired a new stake in JOYY during the third quarter worth $209,000. DekaBank Deutsche Girozentrale increased its position in shares of JOYY by 5.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock worth $291,000 after purchasing an additional 421 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in JOYY in the 3rd quarter valued at about $725,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in JOYY in the third quarter valued at about $301,000. Finally, GSA Capital Partners LLP lifted its position in JOYY by 25.9% in the third quarter. GSA Capital Partners LLP now owns 11,846 shares of the information services provider’s stock valued at $429,000 after buying an additional 2,434 shares during 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.