HUYA (NYSE:HUYA) Trading Up 8.3% – Time to Buy?

HUYA Inc. (NYSE:HUYA)’s share price shot up 8.3% on Friday . The stock traded as high as $3.72 and last traded at $3.73. 2,428,533 shares changed hands during trading, an increase of 54% from the average session volume of 1,578,396 shares. The stock had previously closed at $3.44.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HUYA. HSBC reaffirmed a “hold” rating and set a $4.70 price target on shares of HUYA in a research note on Friday, October 11th. Hsbc Global Res downgraded shares of HUYA from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Bank of America lowered HUYA from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.80 to $4.00 in a report on Wednesday, November 6th. Finally, Citigroup lowered their target price on HUYA from $5.90 to $5.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.68.

HUYA Price Performance

The firm has a 50-day moving average of $3.14 and a 200-day moving average of $3.80.

HUYA (NYSE:HUYA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.30. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. HUYA had a positive return on equity of 0.30% and a negative net margin of 2.51%. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. Research analysts predict that HUYA Inc. will post 0.16 earnings per share for the current year.

Institutional Investors Weigh In On HUYA

A number of institutional investors have recently modified their holdings of HUYA. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in HUYA by 160.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 293,100 shares of the company’s stock valued at $1,158,000 after buying an additional 180,600 shares in the last quarter. Mackenzie Financial Corp lifted its stake in HUYA by 162.4% in the 2nd quarter. Mackenzie Financial Corp now owns 171,584 shares of the company’s stock valued at $678,000 after buying an additional 106,182 shares in the last quarter. Millennium Management LLC purchased a new position in HUYA in the 2nd quarter valued at about $5,197,000. FMR LLC lifted its stake in HUYA by 236.8% in the 3rd quarter. FMR LLC now owns 2,391,957 shares of the company’s stock valued at $12,199,000 after buying an additional 1,681,800 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in HUYA by 177.6% in the 2nd quarter. Marshall Wace LLP now owns 784,081 shares of the company’s stock valued at $3,097,000 after buying an additional 501,681 shares in the last quarter. 23.20% of the stock is currently owned by institutional investors and hedge funds.

About HUYA

HUYA Inc, together with its subsidiaries, operates game live streaming platforms in the People's Republic of China. Its platforms enable broadcasters and viewers to interact during live streaming. The company's live streaming content also covers other entertainment content, such as talent shows, anime, outdoor activities, live chats, and other genres.