StockNews.com Begins Coverage on Yiren Digital (NYSE:YRD)

StockNews.com assumed coverage on shares of Yiren Digital (NYSE:YRDGet Rating) in a research note published on Saturday. The firm issued a strong-buy rating on the technology company’s stock.

Yiren Digital Stock Performance

Shares of YRD stock opened at $1.20 on Friday. The stock’s fifty day moving average is $1.30 and its two-hundred day moving average is $1.80. The firm has a market capitalization of $100.78 million, a P/E ratio of 0.63 and a beta of 0.39. Yiren Digital has a fifty-two week low of $0.67 and a fifty-two week high of $4.47.

Institutional Trading of Yiren Digital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Yiren Digital by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 854,757 shares of the technology company’s stock valued at $2,173,000 after acquiring an additional 6,293 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Yiren Digital by 34.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 24,289 shares of the technology company’s stock valued at $62,000 after acquiring an additional 6,164 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Yiren Digital by 32.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,767 shares of the technology company’s stock valued at $177,000 after acquiring an additional 15,017 shares in the last quarter. 1.59% of the stock is currently owned by hedge funds and other institutional investors.

About Yiren Digital

(Get Rating)

Yiren Digital Ltd., through its subsidiaries, operates as an online consumer finance marketplace that connects borrowers and investors in the People's Republic of China. It provides loan facilitation services; and post-origination services, such as cash processing, collection, and SMS services. The company's loan products portfolio includes unsecured consumer loans; secured consumer loan, which include secured financial leasing, auto-secured, and property-secured loans; and small business loans.

Further Reading

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