HUYA (NYSE:HUYA) Sees Strong Trading Volume Following Earnings Beat

HUYA Inc. (NYSE:HUYA) shares saw unusually-high trading volume on Wednesday following a stronger than expected earnings report. Approximately 815,309 shares were traded during mid-day trading, a decline of 48% from the previous session’s volume of 1,556,995 shares.The stock last traded at $4.02 and had previously closed at $3.68.

The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.31. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.55 billion. HUYA had a negative net margin of 4.92% and a negative return on equity of 2.58%. The business’s quarterly revenue was down 30.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share.

Institutional Trading of HUYA

Several institutional investors and hedge funds have recently bought and sold shares of the company. UBS Group AG raised its holdings in shares of HUYA by 2,307.4% during the first quarter. UBS Group AG now owns 3,373,978 shares of the company’s stock worth $15,082,000 after purchasing an additional 3,233,828 shares during the period. Renaissance Technologies LLC grew its position in shares of HUYA by 142.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,127,865 shares of the company’s stock valued at $9,512,000 after buying an additional 1,250,065 shares during the last quarter. Nuveen Asset Management LLC raised its stake in HUYA by 14.3% during the second quarter. Nuveen Asset Management LLC now owns 9,754,986 shares of the company’s stock worth $34,923,000 after acquiring an additional 1,220,158 shares during the period. Twenty Acre Capital LP bought a new position in HUYA in the first quarter worth about $4,177,000. Finally, Acadian Asset Management LLC boosted its stake in HUYA by 235.7% in the second quarter. Acadian Asset Management LLC now owns 1,097,019 shares of the company’s stock valued at $3,923,000 after acquiring an additional 770,268 shares during the period. Institutional investors and hedge funds own 91.41% of the company’s stock.

HUYA Price Performance

The company has a fifty day moving average price of $2.96 and a 200 day moving average price of $3.09. The company has a market capitalization of $942.37 million, a P/E ratio of -17.30 and a beta of 0.67.

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.