Huya Stock Slides after Goldman Reinstates Stock with Sell Rating

Investing.com

28 October 2021 at 9:13 am·1-min read

By Sam Boughedda

Investing.com — HUYA Inc (NYSE:HUYA) shares slid 1.4% on Thursday after Goldman Sachs put a sell rating on the stock on decelerating industry growth.

Goldman reinstated the stock with a sell rating and $9 price target, with analyst Piyush Mubayi believing that live streaming revenue in China will decline year over year.

Huya shares have fallen 12 cents to $8.67.

The analyst told investors that the live game streaming industry will "turn ex-growth in the midst of a macro slowdown," while he also said the company faces competition at a time where emerging regulation is creating uncertainty.

Mubayi added that Huya's content investment will weigh on its margins.

Shares of Huya were trading at highs of around $35 in March but have been on a steady decline since, with China recently implementing new gaming regulations.

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