Yiren Digital (NYSE:YRD) Stock Rating Lowered by StockNews.com

Yiren Digital (NYSE:YRD) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Yiren Digital Stock Performance

Yiren Digital stock opened at $4.54 on Thursday. Yiren Digital has a one year low of $2.16 and a one year high of $5.80. The company has a 50-day simple moving average of $4.63 and a 200-day simple moving average of $4.83. The firm has a market capitalization of $394.66 million, a P/E ratio of 1.36 and a beta of 0.69.

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

Hedge Funds Weigh In On Yiren Digital

Several hedge funds have recently made changes to their positions in YRD. XTX Topco Ltd bought a new stake in shares of Yiren Digital during the 2nd quarter worth $70,000. Advisors Preferred LLC acquired a new position in shares of Yiren Digital in the 1st quarter valued at $76,000. EntryPoint Capital LLC purchased a new position in Yiren Digital in the 1st quarter worth about $72,000. Acadian Asset Management LLC raised its holdings in Yiren Digital by 6.3% during the 2nd quarter. Acadian Asset Management LLC now owns 432,950 shares of the technology company’s stock worth $1,943,000 after buying an additional 25,811 shares during the period. Finally, Banco BTG Pactual S.A. purchased a new stake in Yiren Digital during the first quarter valued at about $223,000. Institutional investors and hedge funds 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.