HUYA (NYSE:HUYA) Stock Price Down 9.4% Following Weak Earnings

HUYA Inc. (NYSE:HUYA)’s stock price was down 9.4% on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $3.40 and last traded at $3.36. Approximately 2,006,356 shares were traded during trading, an increase of 31% from the average daily volume of 1,526,927 shares. The stock had previously closed at $3.71.

The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. HUYA had a positive return on equity of 0.30% and a negative net margin of 2.51%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share.

Analysts Set New Price Targets

Separately, Daiwa Capital Markets downgraded HUYA from an “outperform” rating to a “neutral” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.68.

Hedge Funds Weigh In On HUYA

Hedge funds have recently made changes to their positions in the company. Seldon Capital LP acquired a new position in shares of HUYA in the 3rd quarter valued at $51,000. Two Sigma Securities LLC purchased a new stake in shares of HUYA during the 4th quarter worth about $43,000. XTX Topco Ltd purchased a new stake in shares of HUYA during the 3rd quarter worth about $90,000. Smith Anglin Financial LLC boosted its stake in shares of HUYA by 27.9% during the 4th quarter. Smith Anglin Financial LLC now owns 18,367 shares of the company’s stock worth $56,000 after acquiring an additional 4,002 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of HUYA by 18.9% during the 3rd quarter. Quantbot Technologies LP now owns 23,224 shares of the company’s stock worth $118,000 after acquiring an additional 3,685 shares in the last quarter. 23.20% of the stock is owned by institutional investors and hedge funds.

HUYA Stock Performance

The firm’s 50 day moving average price is $3.70 and its 200-day moving average price is $3.68. The firm has a market capitalization of $768.76 million, a PE ratio of -37.61 and a beta of 0.72.

About HUYA

HUYA Inc, together with its subsidiaries, operates game live streaming platforms in the People's Republic of China. Its platforms enable broadcasters and viewers to interact during live streaming. The company's live streaming content also covers other entertainment content, such as talent shows, anime, outdoor activities, live chats, and other genres.