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

Yiren Digital Ltd. (NYSE:YRD) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.24 and traded as low as $4.71. Yiren Digital shares last traded at $4.80, with a volume of 68,486 shares.

Analyst Upgrades and Downgrades

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

Yiren Digital Price Performance

The firm has a market cap of $421.10 million, a price-to-earnings ratio of 1.66 and a beta of 0.71. The business has a fifty day simple moving average of $5.24 and a 200 day simple moving average of $5.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in Yiren Digital by 6.3% during the 2nd quarter. Acadian Asset Management LLC now owns 432,950 shares of the technology company’s stock worth $1,943,000 after purchasing an additional 25,811 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Yiren Digital by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,021,035 shares of the technology company’s stock worth $4,626,000 after buying an additional 90,726 shares in the last quarter. XTX Topco Ltd acquired a new position in Yiren Digital during the second quarter worth about $70,000. Creative Planning purchased a new stake in Yiren Digital during the 3rd quarter valued at about $89,000. Finally, Ballentine Partners LLC acquired a new stake in Yiren Digital in the 3rd quarter valued at about $78,000. 1.99% of the stock is owned by institutional investors and hedge funds.

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.