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
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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