JOYY (NASDAQ:YY) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

JOYY Inc. (NASDAQ:YY)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $60.11 and traded as high as $65.46. JOYY shares last traded at $64.0950, with a volume of 459,464 shares traded.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley set a $66.00 price target on JOYY in a research report on Monday, November 24th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, JOYY has an average rating of “Buy” and a consensus price target of $66.00.

JOYY Stock Up 1.5%

The company has a market capitalization of $3.40 billion, a PE ratio of 19.06 and a beta of 0.21. The stock’s fifty day simple moving average is $65.69 and its 200-day simple moving average is $60.17.

Institutional Trading of JOYY

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its stake in shares of JOYY by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 6,338 shares of the information services provider’s stock valued at $263,000 after buying an additional 218 shares in the last quarter. Aberdeen Group plc raised its position in shares of JOYY by 2.9% in the 2nd quarter. Aberdeen Group plc now owns 13,535 shares of the information services provider’s stock valued at $562,000 after purchasing an additional 376 shares in the last quarter. American Century Companies Inc. grew its position in shares of JOYY by 0.9% during the second quarter. American Century Companies Inc. now owns 64,618 shares of the information services provider’s stock worth $2,685,000 after buying an additional 546 shares in the last quarter. D Orazio & Associates Inc. raised its stake in shares of JOYY by 22.0% in the 2nd quarter. D Orazio & Associates Inc. now owns 6,842 shares of the information services provider’s stock valued at $284,000 after purchasing an additional 1,233 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in JOYY by 14.0% during the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,835 shares of the information services provider’s stock valued at $492,000 after buying an additional 1,452 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Company Profile

JOYY Inc (NASDAQ:YY) is a global technology-driven social media company specializing in video-based content creation and real-time social entertainment. The company develops and operates platforms that enable users to broadcast live video, engage with audiences and participate in interactive social communities. Its flagship global products include Bigo Live, a live-streaming application, and Likee, a short-video creation and sharing platform, which collectively support real-time interaction through virtual gifting and in-app social features.

Originally founded in Guangzhou, China in 2005 by David Xueling Li under the name YY Inc, the company pioneered real-time group communication and live streaming services in its domestic market.