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

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

Analysts Set New Price Targets

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

Yiren Digital Stock Performance

The company has a market cap of $522.17 million, a P/E ratio of 2.05 and a beta of 0.71. The firm’s 50 day moving average price is $5.04 and its two-hundred day moving average price is $5.17.

Institutional Trading of Yiren Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YRD. XTX Topco Ltd grew its position in Yiren Digital by 34.5% in 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. Creative Planning acquired a new position in shares of Yiren Digital during the third quarter valued at about $89,000. Ballentine Partners LLC bought a new stake in shares of Yiren Digital during the third quarter worth about $78,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Yiren Digital in the 3rd quarter worth about $153,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in 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 acquiring an additional 78,415 shares in the last quarter. 1.99% of the stock is owned by 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.