JOYY (NASDAQ:YY) Shares Gap Down – Time to Sell?

JOYY Inc. (NASDAQ:YY) gapped down prior to trading on Thursday . The stock had previously closed at $46.88, but opened at $42.77. JOYY shares last traded at $42.84, with a volume of 1,215,068 shares traded.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. StockNews.com cut JOYY from a “buy” rating to a “hold” rating in a report on Thursday, March 6th.

JOYY Trading Down 10.7 %

The company has a market cap of $2.25 billion, a PE ratio of 12.62 and a beta of 0.21. The stock has a 50 day moving average price of $45.92 and a 200 day moving average price of $39.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of JOYY in the 4th quarter valued at approximately $25,000. Loomis Sayles & Co. L P bought a new position in JOYY during the 3rd quarter valued at approximately $25,000. Global Retirement Partners LLC increased its position in JOYY by 71.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock valued at $45,000 after buying an additional 447 shares in the last quarter. Rhumbline Advisers increased its position in JOYY by 63.0% during the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after buying an additional 510 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in JOYY during the 4th quarter valued at approximately $85,000. 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.