JOYY Inc. (NASDAQ:YY) Short Interest Down 15.7% in May

JOYY Inc. (NASDAQ:YYGet Free Report) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 1,560,000 shares, a drop of 15.7% from the May 15th total of 1,850,000 shares. Currently, 3.7% of the shares of the company are sold short. Based on an average daily trading volume, of 447,100 shares, the short-interest ratio is currently 3.5 days.

JOYY Trading Down 1.1 %

YY stock opened at $28.15 on Monday. The business’s 50-day moving average is $32.25 and its 200 day moving average is $33.13. JOYY has a 12-month low of $28.06 and a 12-month high of $43.20. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 5.30 and a beta of 0.25.

JOYY (NASDAQ:YYGet Free Report) last announced its earnings results on Tuesday, May 28th. The information services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.19. The company had revenue of $564.56 million for the quarter, compared to analysts’ expectations of $553.36 million. JOYY had a net margin of 14.19% and a return on equity of 5.47%. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, equities analysts forecast that JOYY will post 3.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. cut shares of JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Bank of America reissued a “neutral” rating and issued a $35.00 price objective on shares of JOYY in a report on Monday, March 25th.

Get Our Latest Research Report on JOYY

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale lifted its position in JOYY by 53.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock worth $233,000 after buying an additional 2,694 shares in the last quarter. Swedbank AB acquired a new position in shares of JOYY during the 1st quarter valued at about $1,475,000. Caxton Associates LP grew its holdings in shares of JOYY by 33.1% in the first quarter. Caxton Associates LP now owns 59,111 shares of the information services provider’s stock valued at $1,818,000 after purchasing an additional 14,690 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of JOYY by 1,758.1% in the first quarter. Canada Pension Plan Investment Board now owns 664,326 shares of the information services provider’s stock valued at $20,428,000 after purchasing an additional 628,573 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in JOYY by 9.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 56,365 shares of the information services provider’s stock worth $1,796,000 after purchasing an additional 4,842 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

JOYY Company Profile

(Get Free Report)

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.

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