Yiren Digital (NYSE:YRD) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Shares of Yiren Digital Ltd. (NYSE:YRD) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.16 and traded as low as $4.73. Yiren Digital shares last traded at $4.77, with a volume of 126,462 shares trading hands.

Wall Street Analysts Forecast Growth

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

Yiren Digital Price Performance

The company has a market cap of $418.47 million, a PE ratio of 1.64 and a beta of 0.72. The stock’s 50-day moving average is $5.15 and its 200 day moving average is $5.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in YRD. Ballentine Partners LLC purchased a new stake in shares of Yiren Digital during the third quarter worth about $78,000. XTX Topco Ltd purchased a new position in shares of Yiren Digital in the second quarter worth $70,000. Creative Planning purchased a new position in shares of Yiren Digital in the third quarter worth $89,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Yiren Digital during the third quarter worth $153,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Yiren Digital by 44.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 256,463 shares of the technology company’s stock worth $1,459,000 after acquiring an additional 78,415 shares during the last quarter. 1.99% of the stock is owned by institutional investors and hedge funds.

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.