JOYY (NASDAQ:YY) Reaches New 12-Month High – Time to Buy?

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

JOYY Trading Down 0.5 %

The company’s fifty day moving average price is $42.68 and its two-hundred day moving average price is $38.03. The firm has a market cap of $2.68 billion, a P/E 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. JOYY had a net margin of 9.02% and a return on equity of 4.64%. On average, analysts predict that JOYY Inc. will post 3.37 EPS for the current fiscal year.

Institutional Trading of JOYY

Several large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new position in shares of JOYY during the fourth quarter valued at $1,980,000. Public Employees Retirement System of Ohio increased its holdings in JOYY by 3.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 125,487 shares of the information services provider’s stock worth $5,252,000 after purchasing an additional 4,542 shares in the last quarter. Vise Technologies Inc. acquired a new position in shares of JOYY during the 4th quarter valued at $284,000. Tiger Pacific Capital LP raised its holdings in shares of 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 purchasing an additional 127,829 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in shares of JOYY during the 4th quarter worth about $85,000. 36.83% of the stock is 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.