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

StockNews.com started coverage on shares of Yiren Digital (NYSE:YRD – Get Rating) in a report issued on Thursday. The brokerage set a “buy” rating on the technology company’s stock.

Yiren Digital Price Performance

NYSE YRD opened at $2.50 on Thursday. Yiren Digital has a 12 month low of $0.67 and a 12 month high of $3.85. The stock’s fifty day moving average price is $2.27 and its 200-day moving average price is $2.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.73 and a quick ratio of 4.73.

Institutional Investors Weigh In On Yiren Digital

Several institutional investors have recently modified their holdings of YRD. Envestnet Asset Management Inc. lifted its holdings in Yiren Digital by 34.0% during the first quarter. Envestnet Asset Management Inc. now owns 24,289 shares of the technology company’s stock valued at $62,000 after purchasing an additional 6,164 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Yiren Digital by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 854,757 shares of the technology company’s stock valued at $2,173,000 after purchasing an additional 6,293 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in Yiren Digital during the third quarter valued at approximately $26,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Yiren Digital Company Profile

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Yiren Digital Ltd. engages in the easy access to affordable credit and investors with attractive investment opportunities through its online marketplace. It operates through Yiren Wealth and Yiren Credit segments. The Yiren Wealth segment specifically targets the mass affluent investors and provides them with one-stop asset allocation-based wealth management solutions.