JOYY (NASDAQ:YY) Sets New 1-Year High – Should You Buy?

JOYY Inc. (NASDAQ:YY) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $51.77 and last traded at $50.92, with a volume of 26177 shares. The stock had previously closed at $49.99.

JOYY Trading Down 0.5 %

The stock has a 50 day moving average price of $42.68 and a 200-day moving average price of $38.03. The stock has a market capitalization of $2.68 billion, a PE ratio of 15.05 and a beta of 0.28.

JOYY (NASDAQ:YY) last announced its quarterly earnings results on Tuesday, November 26th. The information services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. Research analysts forecast that JOYY Inc. will post 3.37 earnings per share for the current year.

Institutional Investors Weigh In On JOYY

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new stake in JOYY in the 4th quarter worth approximately $1,980,000. Public Employees Retirement System of Ohio boosted its holdings in shares of JOYY by 3.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 125,487 shares of the information services provider’s stock valued at $5,252,000 after acquiring an additional 4,542 shares during the period. Vise Technologies Inc. bought a new stake in shares of JOYY during the fourth quarter valued at about $284,000. Tiger Pacific Capital LP boosted its stake in JOYY by 23.1% during the fourth quarter. Tiger Pacific Capital LP now owns 680,676 shares of the information services provider’s stock valued at $28,486,000 after buying an additional 127,829 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in JOYY in the 4th quarter worth about $85,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Company Profile

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.