Yiren Digital (NYSE:YRD) Shares Pass Below 50-Day Moving Average – Time to Sell?

Yiren Digital Ltd. (NYSE:YRD)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-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 traded.

Analyst Upgrades and Downgrades

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

Yiren Digital Stock Down 1.7 %

The stock has a market cap of $407.94 million, a P/E ratio of 1.60 and a beta of 0.72. The firm has a 50 day moving average price of $5.12 and a 200 day moving average price of $5.08.

Hedge Funds Weigh In On Yiren Digital

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Yiren Digital by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company’s stock valued at $4,626,000 after acquiring an additional 90,726 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Yiren Digital by 6.3% in the second quarter. Acadian Asset Management LLC now owns 432,950 shares of the technology company’s stock worth $1,943,000 after purchasing an additional 25,811 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Yiren Digital by 44.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,463 shares of the technology company’s stock worth $1,459,000 after buying an additional 78,415 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Yiren Digital during the third quarter valued at approximately $153,000. Finally, XTX Topco Ltd grew its holdings 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 buying an additional 5,294 shares in the last quarter. 1.99% of the stock is currently owned by hedge funds and other institutional investors.

About Yiren Digital

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.