HUYA (NYSE:HUYA) Trading 8.3% Higher – Here’s Why

HUYA Inc. (NYSE:HUYA)’s stock price shot up 8.3% during mid-day trading on Friday . The company traded as high as $3.72 and last traded at $3.73. 2,428,533 shares were traded 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

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

HUYA Price Performance

The stock has a market capitalization of $859.07 million, a price-to-earnings ratio of -42.17 and a beta of 0.62. The business has a fifty day moving average of $3.12 and a 200-day moving average of $3.81.

HUYA (NYSE:HUYA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.04 by $0.30. HUYA had a negative net margin of 2.51% and a positive return on equity of 0.30%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, research analysts anticipate that HUYA Inc. will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Seldon Capital LP bought a new position in shares of HUYA in the third quarter valued at approximately $51,000. Smith Anglin Financial LLC lifted its position in HUYA by 27.9% during the 4th quarter. Smith Anglin Financial LLC now owns 18,367 shares of the company’s stock worth $56,000 after acquiring an additional 4,002 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new stake in HUYA during the third quarter valued at about $61,000. XTX Topco Ltd acquired a new stake in shares of HUYA in the third quarter valued at about $90,000. Finally, Quantbot Technologies LP increased its stake in shares of HUYA by 18.9% in the third quarter. Quantbot Technologies LP now owns 23,224 shares of the company’s stock worth $118,000 after purchasing an additional 3,685 shares during the period. Institutional investors and hedge funds own 23.20% of the company’s stock.

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.