StockNews.com launches coverage on Yiren Digital (NYSE:YRD)

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StockNews.com research analysts assumed stock coverage of Yiren Digital (NYSE:YRD – Get a Rating) in a report released Saturday. The firm has set a “strong buy” rating on shares of the technology company.

Yiren Digital Stock Performance

Shares of YRD opened at $1.20 on Friday. Yiren Digital has a 52 week low of $0.67 and a 52 week high of $4.47. The company has a market capitalization of $100.78 million, a PE ratio of 0.63 and a beta of 0.39. The company’s 50-day moving average is $1.30 and its 200-day moving average is $1.81.

Institutional entries and exits

A number of institutional investors have recently increased or reduced their stake in YRD. Dimensional Fund Advisors LP increased its stake in Yiren Digital shares by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 854,757 shares of the technology company valued at $2,173,000 after buying 6,293 additional shares in the last quarter. Connor Clark & ​​Lunn Investment Management Ltd. increased its stake in Yiren Digital shares by 32.1% during the fourth quarter. Connor Clark & ​​Lunn Investment Management Ltd. now owns 61,767 shares of the technology company valued at $177,000 after purchasing an additional 15,017 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Yiren Digital shares by 34.0% during the first quarter. Envestnet Asset Management Inc. now owns 24,289 shares of the technology company valued at $62,000 after buying an additional 6,164 shares in the last quarter. Institutional investors hold 1.59% of the company’s shares.

About Yiren Digital

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Yiren Digital Ltd., through its subsidiaries, operates as an online consumer credit marketplace that connects borrowers and investors in the People’s Republic of China. It provides loan facilitation services; and post-issue services, such as cash handling, collection and SMS services. The Company’s loan product portfolio includes unsecured consumer loans; secured consumer loans, which include secured leasing, self-secured loans, and property-secured loans; and small business loans.

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