Yiren Digital (NYSE:YRD) Shares Up 8.9% – Should You Buy?

Yiren Digital Ltd. (NYSE:YRD) shares were up 8.9% during mid-day trading on Wednesday . The company traded as high as $7.00 and last traded at $6.98. Approximately 59,286 shares changed hands during trading, a decline of 54% from the average daily volume of 130,050 shares. The stock had previously closed at $6.41.

Analyst Upgrades and Downgrades

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

Yiren Digital Stock Performance

The firm has a market cap of $619.37 million, a price-to-earnings ratio of 2.43 and a beta of 0.71. The company’s fifty day moving average is $5.73 and its two-hundred day moving average is $5.45.

Institutional Investors Weigh In On Yiren Digital

Institutional investors and hedge funds have recently modified their holdings of the stock. AXA S.A. raised its holdings in shares of Yiren Digital by 80.7% during the 4th quarter. AXA S.A. now owns 11,562 shares of the technology company’s stock valued at $55,000 after buying an additional 5,165 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Yiren Digital during the fourth quarter valued at approximately $61,000. Invesco Ltd. acquired a new position in shares of Yiren Digital during the fourth quarter worth $71,000. Creative Planning purchased a new position in shares of Yiren Digital in the third quarter valued at $89,000. Finally, XTX Topco Ltd grew its holdings in Yiren Digital by 34.5% during 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 in the last quarter. Hedge funds and other institutional investors own 1.99% of the company’s stock.

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.