StockNews.com launches coverage on Yiren Digital (NYSE:YRD)

Stock market analysts at StockNews.com began to cover the shares of Yiren Digital (NYSE:YRD- Get a rating) in a report released Sunday. The firm has set a “strong buy” rating on shares of the technology company.

Yiren Digital Trading down 0.6%

YRD opened at $1.57 on Friday. The company’s 50-day moving average is $1.75 and its 200-day moving average is $2.20. Yiren Digital has a 1-year minimum of $1.53 and a 1-year maximum of $4.69. The company has a market capitalization of $131.85 million, a P/E ratio of 6.04 and a beta of 0.55.

Institutional entries and exits

A number of large investors have recently increased or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in Yiren Digital by 34.0% in Q1. Envestnet Asset Management Inc. now owns 24,289 shares of the technology company valued at $62,000 after buying an additional 6,164 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Yiren Digital by 0.7% during Q1. Dimensional Fund Advisors LP now owns 854,757 shares of the technology company worth $2,173,000 after buying 6,293 additional shares in the last quarter. Finally, Connor Clark & ​​Lunn Investment Management Ltd. increased its stake in Yiren Digital by 32.1% during the 4th quarter. Connor Clark & ​​Lunn Investment Management Ltd. now owns 61,767 shares of the tech company worth $177,000 after purchasing an additional 15,017 shares in the last quarter. Institutional investors hold 1.76% of the company’s shares.

Yiren Digital Company Profile

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Yiren Digital Ltd., through its subsidiaries, operates as an online consumer credit marketplace that connects borrowers and investors in the People’s Republic of China. It provides loan facilitation services; and post-issue services, such as cash processing, collection and SMS services. The Company’s loan product portfolio includes unsecured consumer loans; secured consumer loans, which include secured leasing, self-secured loans, and property-secured loans; and small business loans.

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