Yiren Digital (NYSE:YRD) Shares Gap Up – Time to Buy?

Shares of Yiren Digital Ltd. (NYSE:YRD) gapped up prior to trading on Thursday . The stock had previously closed at $6.82, but opened at $6.97. Yiren Digital shares last traded at $6.80, with a volume of 7,445 shares.

Yiren Digital Stock Performance

The company has a market cap of $607.52 million, a P/E ratio of 2.39 and a beta of 0.65. The firm’s fifty day moving average is $5.97 and its two-hundred day moving average is $5.53.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of Yiren Digital by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,088,920 shares of the technology company’s stock worth $5,225,000 after buying an additional 30,641 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Yiren Digital by 33.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 341,877 shares of the technology company’s stock worth $1,641,000 after buying an additional 85,414 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Yiren Digital by 43.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 38,528 shares of the technology company’s stock valued at $185,000 after buying an additional 11,583 shares during the period. Trexquant Investment LP purchased a new position in Yiren Digital in the fourth quarter valued at $138,000. Finally, American Century Companies Inc. purchased a new stake in shares of Yiren Digital during the 4th quarter worth about $107,000. 1.99% of the stock is owned by hedge funds and other institutional investors.

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.