JOYY (NASDAQ:YY) Sees Unusually-High Trading Volume – What’s Next?

JOYY Inc. (NASDAQ:YY) shares saw unusually-strong trading volume on Friday . Approximately 1,000,891 shares traded hands during mid-day trading, an increase of 118% from the previous session’s volume of 460,152 shares.The stock last traded at $42.17 and had previously closed at $41.23.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on YY shares. StockNews.com cut JOYY from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

JOYY Stock Up 1.4 %

The stock has a fifty day moving average of $45.97 and a 200-day moving average of $39.95. The firm has a market capitalization of $2.25 billion, a P/E ratio of 12.64 and a beta of 0.21.

Institutional Investors Weigh In On JOYY

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