Yiren Digital (NYSE:YRD) Shares Pass Below 50-Day Moving Average – What’s Next?

Yiren Digital Ltd. (NYSE:YRD)’s stock price crossed 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Yiren Digital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th.

Yiren Digital Price Performance

The company has a 50 day moving average price of $5.12 and a 200-day moving average price of $5.08. The stock has a market capitalization of $407.94 million, a PE ratio of 1.60 and a beta of 0.72.

Institutional Investors Weigh In On Yiren Digital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in Yiren Digital in the third quarter worth about $153,000. XTX Topco Ltd raised its position in shares of 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 acquiring an additional 5,294 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 valued at $1,459,000 after purchasing an additional 78,415 shares during the period. Ballentine Partners LLC bought a new stake in shares of Yiren Digital during the third quarter valued at approximately $78,000. Finally, Creative Planning purchased a new stake in Yiren Digital in the third quarter worth $89,000. 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.