Yiren Digital (NYSE:YRD) Shares Up 7.1% – Still a Buy?

Yiren Digital Ltd. (NYSE:YRD)’s share price rose 7.1% during mid-day trading on Thursday . The company traded as high as $6.14 and last traded at $6.18. Approximately 170,982 shares traded hands during mid-day trading, an increase of 76% from the average daily volume of 97,421 shares. The stock had previously closed at $5.77.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Yiren Digital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th.

Yiren Digital Price Performance

The company’s 50-day simple moving average is $5.00 and its 200-day simple moving average is $5.16. The company has a market cap of $541.29 million, a price-to-earnings ratio of 2.13 and a beta of 0.71.

Institutional Investors Weigh In On Yiren Digital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Yiren Digital by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company’s stock worth $4,626,000 after purchasing an additional 90,726 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Yiren Digital by 44.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,463 shares of the technology company’s stock worth $1,459,000 after acquiring an additional 78,415 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Yiren Digital during the 3rd quarter valued at approximately $153,000. XTX Topco Ltd lifted its stake in Yiren Digital by 34.5% during the third quarter. XTX Topco Ltd now owns 20,657 shares of the technology company’s stock worth $118,000 after purchasing an additional 5,294 shares during the last quarter. Finally, Creative Planning acquired a new position in Yiren Digital in the third quarter worth $89,000. Institutional investors own 1.99% of the company’s stock.

Yiren Digital Company Profile

Yiren Digital Ltd. provides financial services through an AI-powered platform in China. Its platform provides a suite of financial and lifestyle services. The company offers financial services, which provides a portfolio of loan products to borrowers; insurance brokerage services; and consumption and lifestyle services, including non-financial products and services to meet various consumer needs.