Yiren Digital (NYSE:YRD) Shares Gap Up – Time to Buy?

Yiren Digital Ltd. (NYSE:YRD)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $6.82, but opened at $6.97. Yiren Digital shares last traded at $6.80, with a volume of 7,445 shares changing hands.

Yiren Digital Stock Up 1.5 %

The firm has a market capitalization of $607.52 million, a PE ratio of 2.39 and a beta of 0.65. The stock has a 50-day moving average price of $5.97 and a 200 day moving average price of $5.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its stake in Yiren Digital by 43.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 38,528 shares of the technology company’s stock worth $185,000 after buying an additional 11,583 shares during the period. Two Sigma Investments LP acquired a new position in shares of Yiren Digital in the 4th quarter worth approximately $61,000. AXA S.A. boosted its position 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 worth $55,000 after purchasing an additional 5,165 shares during the period. Dimensional Fund Advisors LP increased its holdings in Yiren Digital by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,088,920 shares of the technology company’s stock valued at $5,225,000 after purchasing an additional 30,641 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in Yiren Digital in the fourth quarter valued at approximately $71,000. 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.