JOYY (NASDAQ:YY) Trading Down 5.9% – Should You Sell?

JOYY Inc. (NASDAQ:YY) fell 5.9% during mid-day trading on Tuesday . The company traded as low as $46.26 and last traded at $46.17. 311,798 shares were traded during trading, a decline of 29% from the average session volume of 439,583 shares. The stock had previously closed at $49.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of JOYY from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark raised JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

JOYY Trading Down 4.5 %

The stock’s 50-day simple moving average is $45.56 and its 200-day simple moving average is $39.79. The firm has a market capitalization of $2.52 billion, a P/E ratio of 14.16 and a beta of 0.21.

Institutional Investors Weigh In On JOYY

Large investors have recently made changes to their positions in the business. GSA Capital Partners LLP raised its holdings in shares of JOYY by 25.9% in the 3rd quarter. GSA Capital Partners LLP now owns 11,846 shares of the information services provider’s stock worth $429,000 after purchasing an additional 2,434 shares during the period. Natixis Advisors LLC raised its stake in shares of JOYY by 1.7% in the third quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock valued at $769,000 after buying an additional 352 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of JOYY by 45.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock valued at $3,615,000 after buying an additional 31,341 shares during the last quarter. Cape Ann Asset Management Ltd grew its stake in shares of JOYY by 47.8% during the 3rd quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock worth $17,283,000 after acquiring an additional 154,200 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in JOYY in the 3rd quarter worth about $25,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

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.