StockNews.com began coverage on shares of Yiren Digital (NYSE:YRD – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “strong-buy” rating on the technology company’s stock.
NYSE YRD opened at $1.96 on Thursday. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.23. Yiren Digital has a twelve month low of $1.80 and a twelve month high of $6.60. The company has a market cap of $164.61 million, a price-to-earnings ratio of 7.54 and a beta of 0.62. The business’s fifty day moving average is $2.30 and its 200 day moving average is $2.74.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its holdings in Yiren Digital by 34.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 24,289 shares of the technology company’s stock worth $62,000 after buying an additional 6,164 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 purchasing an additional 15,017 shares during the period. Millennium Management LLC lifted its stake in shares of Yiren Digital by 74.2% in the 3rd quarter. Millennium Management LLC now owns 63,580 shares of the technology company’s stock valued at $191,000 after purchasing an additional 27,074 shares during the period. Marshall Wace LLP lifted its stake in shares of Yiren Digital by 152.8% in the 3rd quarter. Marshall Wace LLP now owns 63,979 shares of the technology company’s stock valued at $193,000 after purchasing an additional 38,673 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Yiren Digital in the 3rd quarter valued at about $62,000. 1.76% of the stock is currently owned by hedge funds and other institutional investors.
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.
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