Yiren Digital (NYSE:YRD) Downgraded by StockNews.com to “Buy”

Yiren Digital (NYSE:YRD) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

Yiren Digital Stock Down 4.4 %

NYSE:YRD traded down $0.27 on Tuesday, reaching $5.92. The stock had a trading volume of 115,682 shares, compared to its average volume of 145,650. The stock has a fifty day moving average price of $5.59 and a 200-day moving average price of $5.07. Yiren Digital has a 1-year low of $2.19 and a 1-year high of $9.20. The company has a market capitalization of $514.63 million, a P/E ratio of 1.87 and a beta of 0.72.

Yiren Digital (NYSE:YRD) last announced its quarterly 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.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of YRD. Acadian Asset Management LLC boosted its holdings in shares of Yiren Digital by 63.9% in the first quarter. Acadian Asset Management LLC now owns 407,139 shares of the technology company’s stock worth $1,817,000 after acquiring an additional 158,772 shares during the period. Secure Asset Management LLC purchased a new position in shares of Yiren Digital in the second quarter valued at about $310,000. Dimensional Fund Advisors LP boosted its holdings in Yiren Digital by 9.8% in the second 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 in the last quarter. XTX Topco Ltd bought a new position in shares of Yiren Digital in the 2nd quarter worth approximately $70,000. Finally, EntryPoint Capital LLC bought a new position in shares of Yiren Digital during the first quarter valued at approximately $72,000. Hedge funds and other 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.