JOYY (NASDAQ:YY) Stock Breaks Above 200-Day Moving Average – Here’s What Happened

JOYY Inc. (NASDAQ:YY)’s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $69.10 and traded as high as $84.75. JOYY shares last traded at $83.16, with a volume of 305,612 shares trading hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of JOYY to a “buy” rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $66.00.

JOYY Stock Down 0.7%

The company has a fifty day moving average price of $77.18 and a 200 day moving average price of $69.10. The stock has a market cap of $4.45 billion, a PE ratio of 24.96 and a beta of 0.21.

Institutional Trading of JOYY

A number of institutional investors and hedge funds have recently added to or reduced their stakes in YY. Pinnacle Holdings LLC bought a new stake in JOYY during the 2nd quarter valued at approximately $32,000. Public Employees Retirement System of Ohio bought a new position in shares of JOYY during the second quarter valued at $8,973,000. Finally, Wellington Management Group LLP bought a new stake in JOYY during the 2nd quarter valued at about $9,572,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Company Profile

JOYY Inc (NASDAQ: YY), formerly known as YY Inc, is a technology company that operates social media, live-streaming and digital entertainment platforms. The company’s principal businesses are conducted through its BIGO operations, which focus on connecting users through live video, short-form video, instant messaging and online social communities.

JOYY’s major products include Bigo Live, a live-streaming platform; Likee, a short-video service; and imo, an instant messaging and communications application.