X Financial (NYSE:XYF) Stock Price Up 2.3% – Time to Buy?

X Financial (NYSE:XYF) traded up 2.3% during trading on Monday . The stock traded as high as $8.14 and last traded at $8.13. 16,657 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 24,155 shares. The stock had previously closed at $7.95.

X Financial Price Performance

The firm has a market capitalization of $398.26 million, a P/E ratio of 2.15 and a beta of 0.35. The firm’s 50 day moving average is $7.01 and its two-hundred day moving average is $5.61.

Hedge Funds Weigh In On X Financial

A hedge fund recently raised its stake in X Financial stock. Acadian Asset Management LLC boosted its stake in shares of X Financial (NYSE:XYF) by 23.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,278 shares of the company’s stock after purchasing an additional 10,684 shares during the quarter. Acadian Asset Management LLC owned about 0.12% of X Financial worth $237,000 at the end of the most recent reporting period. 1.15% of the stock is owned by institutional investors and hedge funds.

X Financial Company Profile

X Financial provides personal finance services in the People’s Republic of China. The company offers services as an online marketplace connecting borrowers and investors or institutional funding partners. Its loan products include Xiaoying credit loan, which consists of Xiaoying card loan; and Xiaoying preferred loan to small business owners.