JOYY (NASDAQ:YY) Stock Passes Above 200-Day Moving Average – Time to Sell?

JOYY Inc. (NASDAQ:YY)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $60.11 and traded as high as $65.46. JOYY shares last traded at $64.0950, with a volume of 459,464 shares traded.

Analysts Set New Price Targets

Separately, Morgan Stanley set a $66.00 price objective on JOYY in a research note on Monday, November 24th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, JOYY currently has an average rating of “Buy” and an average target price of $66.00.

JOYY Trading Down 0.8%

The firm has a 50 day simple moving average of $65.71 and a two-hundred day simple moving average of $60.11. The company has a market capitalization of $3.45 billion, a PE ratio of 19.36 and a beta of 0.21.

Hedge Funds Weigh In On JOYY

Several institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in JOYY by 3.6% during the second 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 period. Aberdeen Group plc grew its stake in shares of JOYY by 2.9% during the 2nd quarter. Aberdeen Group plc now owns 13,535 shares of the information services provider’s stock valued at $562,000 after buying an additional 376 shares during the period. American Century Companies Inc. increased its holdings in shares of JOYY by 0.9% during the 2nd quarter. American Century Companies Inc. now owns 64,618 shares of the information services provider’s stock worth $2,685,000 after buying an additional 546 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of JOYY by 5,718.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider’s stock worth $27,000 after buying an additional 629 shares during the period. Finally, D Orazio & Associates Inc. boosted its holdings in JOYY by 22.0% in the second quarter. D Orazio & Associates Inc. now owns 6,842 shares of the information services provider’s stock valued at $284,000 after acquiring an additional 1,233 shares during the last quarter. 36.83% of the stock is owned by institutional investors and hedge funds.

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.