HUYA (NYSE:HUYA) Trading Down 8.2% – Here’s What Happened

Shares of HUYA Inc. Sponsored ADR (NYSE:HUYA) dropped 8.2% during trading on Thursday . The company traded as low as $3.15 and last traded at $3.1750. Approximately 739,119 shares traded hands during trading, a decline of 69% from the average daily volume of 2,414,015 shares. The stock had previously closed at $3.46.

Analyst Ratings Changes

HUYA has been the subject of a number of recent analyst reports. Zacks Research raised HUYA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Morgan Stanley set a $3.40 price objective on shares of HUYA in a report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of HUYA in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $3.45.

HUYA Stock Performance

The stock’s 50 day moving average price is $3.85 and its 200-day moving average price is $3.34. The company has a market cap of $727.20 million, a PE ratio of -54.24 and a beta of 0.89.

HUYA declared that its board has initiated a stock repurchase program on Wednesday, March 18th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of HUYA

A number of institutional investors have recently made changes to their positions in HUYA. Public Employees Retirement System of Ohio increased its stake in shares of HUYA by 8.6% in the third quarter. Public Employees Retirement System of Ohio now owns 245,295 shares of the company’s stock worth $817,000 after buying an additional 19,353 shares during the period. SG Americas Securities LLC raised its holdings in HUYA by 92.1% during the 3rd quarter. SG Americas Securities LLC now owns 85,796 shares of the company’s stock valued at $286,000 after buying an additional 41,138 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in HUYA by 327.0% during the 2nd quarter. Loomis Sayles & Co. L P now owns 10,273 shares of the company’s stock valued at $36,000 after buying an additional 7,867 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in HUYA by 10.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,694 shares of the company’s stock worth $497,000 after acquiring an additional 14,456 shares during the last quarter. Hedge funds and other institutional investors own 23.20% of the company’s stock.

About HUYA

HUYA Inc is a leading interactive live streaming platform based in Guangzhou, China, primarily focused on video game and esports content. The company operates a proprietary technology platform that enables users to broadcast and view live gameplay, participate in real-time chat, and engage with hosts through virtual gifting. Its services are accessible via web browsers, desktop applications and mobile apps for both iOS and Android.

At the core of HUYA’s business are user-generated live streams hosted by professional gamers, influencers and esports organizations.