DouYu International (NASDAQ:DOYU) Shares Gap Up – Here’s What Happened

Shares of DouYu International Holdings Limited (NASDAQ:DOYU) gapped up before the market opened on Thursday . The stock had previously closed at $12.29, but opened at $16.04. DouYu International shares last traded at $16.13, with a volume of 1,355,639 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DOYU shares. HSBC cut shares of DouYu International from a “hold” rating to a “reduce” rating in a research note on Tuesday, September 24th. Hsbc Global Res lowered DouYu International from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, September 24th.

DouYu International Trading Up 25.5 %

The company has a 50-day moving average price of $11.06 and a two-hundred day moving average price of $12.56. The stock has a market cap of $487.92 million, a P/E ratio of -17.60 and a beta of 0.95.

Institutional Investors Weigh In On DouYu International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in DouYu International during the 2nd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in DouYu International during the third quarter valued at approximately $42,000. BNP Paribas Financial Markets raised its stake in DouYu International by 61.4% in the third quarter. BNP Paribas Financial Markets now owns 12,616 shares of the company’s stock worth $137,000 after buying an additional 4,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in DouYu International by 88.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,402 shares of the company’s stock worth $145,000 after buying an additional 6,302 shares during the period. Finally, XTX Topco Ltd bought a new stake in DouYu International during the 3rd quarter valued at $147,000. Institutional investors own 17.86% of the company’s stock.

DouYu International Company Profile

DouYu International Holdings Limited, together with its subsidiaries, operates a platform on PC and mobile apps that provides interactive games and entertainment live streaming services in the People’s Republic of China. Its platform connects game developers and publishers, professional eSports teams or players and eSports tournament organizers, advertisers, and viewers.