JOYY Inc. (NASDAQ:YY) Short Interest Down 18.3% in September

JOYY Inc. (NASDAQ:YY) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 915,600 shares, a drop of 18.3% from the September 15th total of 1,120,000 shares. Based on an average trading volume of 387,500 shares, the short-interest ratio is presently 2.4 days. Currently, 2.3% of the shares of the company are short sold.

JOYY Stock Down 3.5 %

JOYY stock traded down $1.26 during midday trading on Tuesday, reaching $34.34. The stock had a trading volume of 96,790 shares, compared to its average volume of 494,638. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 6.70 and a beta of 0.24. JOYY has a 52-week low of $27.88 and a 52-week high of $43.20. The company has a fifty day moving average of $35.18 and a 200 day moving average of $33.31.

JOYY (NASDAQ:YY) last announced its quarterly earnings data on Tuesday, August 27th. The information services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.81 by $0.27. JOYY had a return on equity of 4.98% and a net margin of 9.53%. The company had revenue of $565.13 million for the quarter, compared to the consensus estimate of $556.82 million. Equities research analysts predict that JOYY will post 3.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of YY. Jupiter Asset Management Ltd. purchased a new position in JOYY during the 1st quarter valued at about $3,235,000. GSA Capital Partners LLP purchased a new position in JOYY during the first quarter valued at approximately $1,162,000. Canada Pension Plan Investment Board raised its stake in JOYY by 10.0% in the second quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider’s stock worth $21,990,000 after buying an additional 66,474 shares in the last quarter. Krane Funds Advisors LLC raised its stake in JOYY by 10.5% in the second quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock worth $42,561,000 after buying an additional 134,394 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in JOYY during the first quarter worth $2,511,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on JOYY from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Benchmark reaffirmed a “hold” rating on shares of JOYY in a report on Thursday, August 29th.

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.