Short Interest in JOYY Inc. (NASDAQ:YY) Rises By 25.7%

JOYY Inc. (NASDAQ:YY) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 1,420,000 shares, a growth of 25.7% from the January 31st total of 1,130,000 shares. Currently, 3.8% of the shares of the company are short sold. Based on an average daily volume of 555,200 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

YY has been the topic of a number of analyst reports. Benchmark raised JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. StockNews.com lowered JOYY from a “buy” rating to a “hold” rating in a report on Thursday.

JOYY Trading Up 4.6 %

Shares of YY opened at $49.52 on Thursday. JOYY has a twelve month low of $27.88 and a twelve month high of $55.31. The stock’s 50 day moving average is $44.32 and its two-hundred day moving average is $38.97. The firm has a market capitalization of $2.67 billion, a PE ratio of 14.96 and a beta of 0.28.

Institutional Investors Weigh In On JOYY

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake 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 worth $3,615,000 after acquiring an additional 31,341 shares in the last quarter. Cape Ann Asset Management Ltd boosted 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 in the last quarter. FMR LLC boosted its stake in shares of JOYY by 4.3% during the 3rd quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock worth $24,591,000 after acquiring an additional 28,126 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of JOYY by 69.1% during the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock worth $1,550,000 after acquiring an additional 15,127 shares in the last quarter. Finally, Whitefort Capital Management LP lifted its stake in JOYY by 168.3% in the 3rd quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock valued at $20,507,000 after buying an additional 354,932 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

About JOYY

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.