Yiren Digital (NYSE:YRD) Stock Crosses Below 50 Day Moving Average – What’s Next?

Shares of Yiren Digital Ltd. (NYSE:YRD) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty 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 Trading Down 1.7 %

The firm has a market capitalization of $407.94 million, a P/E ratio of 1.60 and a beta of 0.72. The firm has a 50 day moving average price of $5.12 and a 200-day moving average price of $5.08.

Hedge Funds Weigh In On Yiren Digital

Large investors have recently made changes to their positions in the company. XTX Topco Ltd raised its position in Yiren Digital by 34.5% in the 3rd quarter. XTX Topco Ltd now owns 20,657 shares of the technology company’s stock worth $118,000 after purchasing an additional 5,294 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Yiren Digital by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company’s stock valued at $4,626,000 after buying an additional 90,726 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Yiren Digital by 6.3% in the second quarter. Acadian Asset Management LLC now owns 432,950 shares of the technology company’s stock worth $1,943,000 after buying an additional 25,811 shares during the period. Creative Planning bought a new stake in shares of Yiren Digital during the 3rd quarter worth approximately $89,000. Finally, Ballentine Partners LLC purchased a new position in Yiren Digital during the 3rd quarter valued at $78,000. 1.99% of the stock is owned by hedge funds and other institutional investors.

Yiren Digital Company Profile

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.