YY (NASDAQ:YY) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totalling 7,041,866 shares, an increase of 28.6% from the February 27th total of 5,477,456 shares, American Banking News.com reports. Based on an average daily trading volume, of 2,846,944 shares, the short-interest ratio is currently 2.5 days. Approximately 21.2% of the company’s shares are short sold.
Separately, analysts at Vetr downgraded shares of YY from a “strong-buy” rating to a “buy” rating and set a $74.09 price target on the stock in a research note on Monday, March 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. YY presently has a consensus rating of “Buy” and an average target price of $96.07.
Shares of YY (NASDAQ:YY) opened at 53.99 on Tuesday. YY has a 1-year low of $50.52 and a 1-year high of $96.39. The stock has a 50-day moving average of $57. and a 200-day moving average of $68.. The company has a market cap of $3.06 billion and a price-to-earnings ratio of 18.79.
YY Inc (NASDAQ:YY) is a communication social platform, which engages users in online group activities through voice, text and video. YY’s platform consists of YY Client, the YY.com and Duowan.com Web portals and Mobile YY. The Company sells online advertisements to major game developers in the form of banners, text-links, videos, logos and buttons on Duowan.com.
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