JOYY (NASDAQ:YY) Shares Up 8.1% – Here’s Why

JOYY Inc. (NASDAQ:YY) shot up 8.1% during trading on Tuesday . The stock traded as high as $51.19 and last traded at $50.97. 450,510 shares traded hands during trading, an increase of 25% from the average session volume of 361,575 shares. The stock had previously closed at $47.15.

JOYY Stock Up 5.4 %

The firm has a 50 day moving average of $42.15 and a 200 day moving average of $37.76. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 15.01 and a beta of 0.28.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in YY. Loomis Sayles & Co. L P bought a new position in shares of JOYY in the third quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new position in shares of JOYY in the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its holdings in shares of JOYY by 71.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 447 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of JOYY by 63.0% in the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 510 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of JOYY in the fourth quarter valued at approximately $85,000. Institutional investors own 36.83% of the company’s stock.

JOYY Company Profile

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.