HUYA (HUYA) Sees Large Volume Increase Following Strong Earnings
Shares of HUYA Inc – (NYSE:HUYA) saw unusually-strong trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 10,516,385 shares traded hands during mid-day trading, an increase of 151% from the previous session’s volume of 4,183,930 shares.The stock last traded at $18.67 and had previously closed at $18.50.
The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.51. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.21 billion. The company’s revenue was up 118.8% compared to the same quarter last year.
A number of equities research analysts have recently commented on HUYA shares. Goldman Sachs Group started coverage on shares of HUYA in a report on Friday, August 3rd. They set a “neutral” rating and a $34.00 price target for the company. CLSA started coverage on shares of HUYA in a research report on Tuesday, September 4th. They issued an “outperform” rating and a $33.00 target price on the stock. Citigroup started coverage on shares of HUYA in a research report on Monday, October 29th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Credit Suisse Group raised shares of HUYA from a “neutral” rating to an “outperform” rating and set a $25.80 target price on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. HUYA presently has an average rating of “Hold” and an average price target of $31.96.
About HUYA (NYSE:HUYA)
HUYA Inc, through 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 also provides advertising and online game-related services. As of December 31, 2017, its live streaming content covered approximately 2,600 games, including mobile, PC, and console games.
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