HUYA (NYSE:HUYA) Shares Gap Down – Here’s What Happened

HUYA Inc. Sponsored ADR (NYSE:HUYA)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.35, but opened at $2.27. HUYA shares last traded at $2.2950, with a volume of 188,545 shares traded.

Analyst Ratings Changes

HUYA has been the topic of several recent research reports. Morgan Stanley set a $3.40 price objective on shares of HUYA in a research report on Wednesday, February 25th. Zacks Research lowered shares of HUYA from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of HUYA in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, HUYA presently has an average rating of “Hold” and an average price target of $3.45.

HUYA Stock Performance

The company has a market capitalization of $508.54 million, a PE ratio of -37.91 and a beta of 0.85. The stock’s fifty day simple moving average is $2.89 and its 200-day simple moving average is $3.28.

HUYA (NYSE:HUYA) last released its earnings results on Tuesday, May 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $250.68 million during the quarter, compared to analysts’ expectations of $251.85 million. HUYA had a negative net margin of 1.76% and a positive return on equity of 0.40%. On average, equities analysts anticipate that HUYA Inc. Sponsored ADR will post 0.14 EPS for the current year.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in HUYA stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of HUYA Inc. Sponsored ADR (NYSE:HUYA) by 10.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,694 shares of the company’s stock after acquiring an additional 14,456 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.07% of HUYA worth $497,000 at the end of the most recent quarter. 23.20% of the stock is currently owned by institutional investors.

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.