JOYY (NASDAQ:YY) Stock Price Down 5.9% – Time to Sell?

JOYY Inc. (NASDAQ:YY) fell 5.9% during trading on Tuesday . The company traded as low as $46.26 and last traded at $46.17. 311,798 shares were traded during trading, a decline of 29% from the average session volume of 439,583 shares. The stock had previously closed at $49.09.

Analyst Ratings Changes

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

JOYY Trading Down 1.7 %

The stock’s 50-day moving average price is $45.92 and its 200-day moving average price is $39.94. The company has a market capitalization of $2.52 billion, a P/E ratio of 14.16 and a beta of 0.21.

JOYY (NASDAQ:YY) last issued its earnings results on Wednesday, March 19th. The information services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $1.01. JOYY had a return on equity of 4.64% and a net margin of 9.02%. Sell-side analysts expect that JOYY Inc. will post 3.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of YY. Loomis Sayles & Co. L P purchased a new position in shares of JOYY in the third quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new position in shares of JOYY in the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC grew its stake 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 worth $45,000 after purchasing an additional 447 shares in the last quarter. Rhumbline Advisers grew its position in shares of JOYY by 63.0% during the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after buying an additional 510 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of JOYY during the fourth quarter worth approximately $85,000. Institutional investors and hedge funds 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.