Jiayin Group (NASDAQ:JFIN) Stock Price Down 2.1% – Here’s Why

Jiayin Group Inc. (NASDAQ:JFIN) was down 2.1% on Tuesday . The stock traded as low as $6.40 and last traded at $6.40. Approximately 59,180 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 76,304 shares. The stock had previously closed at $6.54.

Jiayin Group Price Performance

The stock has a market capitalization of $347.88 million, a price-to-earnings ratio of 2.18 and a beta of 0.88. The stock has a 50 day moving average price of $6.70 and a 200-day moving average price of $6.22.

Institutional Investors Weigh In On Jiayin Group

A hedge fund recently bought a new stake in Jiayin Group stock. Ariadne Wealth Management LP acquired a new stake in Jiayin Group Inc. (NASDAQ:JFIN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,023 shares of the company’s stock, valued at approximately $31,000. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

About Jiayin Group

Jiayin Group Inc, together with its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates a fintech platform that facilitates connections between individual borrowers and financial institutions. It also offers referral services for investment products offered by the financial service providers; and technology development and services, as well as guarantee services.