HUYA (NYSE:HUYA) Stock Price Up 6% – Here’s What Happened

HUYA Inc. (NYSE:HUYA)’s share price rose 6% on Tuesday . The company traded as high as $3.02 and last traded at $3.02. Approximately 432,199 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 995,161 shares. The stock had previously closed at $2.85.

Wall Street Analysts Forecast Growth

HUYA has been the subject of a number of research reports. Hsbc Global Res lowered shares of HUYA from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Citigroup lowered their price target on shares of HUYA from $5.90 to $5.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Bank of America lowered shares of HUYA from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.80 to $4.00 in a report on Wednesday, November 6th. Finally, HSBC reissued a “hold” rating and issued a $4.70 price target on shares of HUYA in a report on Friday, October 11th. Four equities 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.68.

HUYA Trading Up 5.3 %

The business’s fifty day simple moving average is $3.11 and its 200 day simple moving average is $3.86. The stock has a market cap of $679.12 million, a price-to-earnings ratio of -33.33 and a beta of 0.62.

HUYA (NYSE:HUYA) last released its earnings results on Tuesday, November 12th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business earned $0.05 EPS. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, research analysts anticipate that HUYA Inc. will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On HUYA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Smith Anglin Financial LLC grew its holdings in shares of HUYA by 27.9% in the 4th quarter. Smith Anglin Financial LLC now owns 18,367 shares of the company’s stock valued at $56,000 after buying an additional 4,002 shares during the period. Public Employees Retirement System of Ohio bought a new stake in HUYA in the 3rd quarter valued at $711,000. Main Management ETF Advisors LLC bought a new stake in HUYA in the 3rd quarter valued at $1,017,000. XTX Topco Ltd bought a new stake in HUYA in the 3rd quarter valued at $90,000. Finally, Wellington Management Group LLP lifted its position in HUYA by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 103,852 shares of the company’s stock valued at $530,000 after acquiring an additional 11,054 shares in the last quarter. Institutional investors and hedge funds own 23.20% of the company’s stock.

HUYA Company Profile

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.