Yiren Digital (NYSE:YRD) Shares Cross Below 50-Day Moving Average – Should You Sell?

Shares of Yiren Digital Ltd. (NYSE:YRD) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.16 and traded as low as $4.73. Yiren Digital shares last traded at $4.77, with a volume of 126,462 shares.

Analysts Set New Price Targets

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

Yiren Digital Stock Down 4.4 %

The company’s 50 day simple moving average is $5.15 and its 200-day simple moving average is $5.08. The firm has a market cap of $418.47 million, a P/E ratio of 1.64 and a beta of 0.72.

Institutional Trading of Yiren Digital

A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Yiren Digital in the 3rd quarter worth $153,000. XTX Topco Ltd increased its position in Yiren Digital by 34.5% during the 3rd quarter. XTX Topco Ltd now owns 20,657 shares of the technology company’s stock valued at $118,000 after purchasing an additional 5,294 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 valued at $1,459,000 after purchasing an additional 78,415 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Yiren Digital in the 3rd quarter worth approximately $78,000. Finally, Creative Planning purchased a new position in Yiren Digital during the third quarter valued at approximately $89,000. 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.