StockNews.com Downgrades Yiren Digital (NYSE:YRD) to Buy

Yiren Digital (NYSE:YRD) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Yiren Digital Price Performance

Yiren Digital stock opened at $4.66 on Friday. Yiren Digital has a fifty-two week low of $2.16 and a fifty-two week high of $5.80. The firm’s 50 day simple moving average is $4.63 and its 200-day simple moving average is $4.81. The company has a market cap of $405.12 million, a P/E ratio of 1.40 and a beta of 0.69.

Yiren Digital (NYSE:YRD) last released its earnings results on Tuesday, August 20th. The technology company reported $0.65 earnings per share (EPS) for the quarter. Yiren Digital had a return on equity of 24.38% and a net margin of 37.05%. The company had revenue of $205.93 million during the quarter.

Hedge Funds Weigh In On Yiren Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in shares of Yiren Digital during the 2nd quarter valued at $70,000. Advisors Preferred LLC bought a new position in Yiren Digital during the first quarter valued at about $76,000. EntryPoint Capital LLC acquired a new stake in shares of Yiren Digital in the first quarter worth about $72,000. Banco BTG Pactual S.A. bought a new stake in shares of Yiren Digital during the 1st quarter worth about $223,000. Finally, Secure Asset Management LLC acquired a new position in shares of Yiren Digital during the 2nd quarter valued at about $310,000. 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.