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

HUYA Inc. Sponsored ADR (NYSE:HUYA) shares 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 changing hands.

Wall Street Analyst Weigh In

HUYA has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of HUYA in a research note on Monday, April 27th. Morgan Stanley set a $3.40 price objective on shares of HUYA in a research note on Wednesday, February 25th. Finally, Zacks Research cut shares of HUYA from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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 firm’s 50-day simple moving average is $2.89 and its 200 day simple moving average is $3.28.

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

HUYA announced that its board has approved a stock repurchase program on Wednesday, March 18th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On HUYA

A hedge fund recently raised its stake in HUYA stock. Public Employees Retirement System of Ohio increased its holdings in HUYA Inc. Sponsored ADR (NYSE:HUYA) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,295 shares of the company’s stock after buying an additional 19,353 shares during the period. Public Employees Retirement System of Ohio owned about 0.11% of HUYA worth $817,000 as of its most recent SEC filing. 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.