Yiren Digital (NYSE:YRD) Sees Unusually-High Trading Volume – Still a Buy?

Yiren Digital Ltd. (NYSE:YRD) shares saw an uptick in trading volume on Tuesday . 144,567 shares changed hands during trading, an increase of 31% from the previous session’s volume of 109,992 shares.The stock last traded at $7.07 and had previously closed at $6.61.

Wall Street Analyst Weigh In

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

Yiren Digital Stock Performance

The stock has a 50 day moving average of $5.24 and a two-hundred day moving average of $5.26. The stock has a market cap of $636.48 million, a PE ratio of 2.50 and a beta of 0.71.

Hedge Funds Weigh In On Yiren Digital

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd grew its stake 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 acquiring an additional 5,294 shares in the last quarter. Creative Planning purchased a new position in Yiren Digital during the 3rd quarter valued at about $89,000. Ballentine Partners LLC purchased a new position in Yiren Digital during the 3rd quarter valued at about $78,000. Public Employees Retirement System of Ohio purchased a new position in Yiren Digital during the 3rd quarter valued at about $153,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Yiren Digital by 44.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,463 shares of the technology company’s stock valued at $1,459,000 after buying an additional 78,415 shares during 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.