Yiren Digital (NYSE:YRD) Sees Large Volume Increase – What’s Next?

Shares of Yiren Digital Ltd. (NYSE:YRD) saw an uptick in trading volume on Monday . 243,146 shares traded hands during mid-day trading, an increase of 70% from the previous session’s volume of 142,767 shares.The stock last traded at $8.12 and had previously closed at $7.34.

Yiren Digital Stock Performance

The business’s fifty day moving average is $6.06 and its 200-day moving average is $5.57. The firm has a market cap of $697.01 million, a P/E ratio of 2.75 and a beta of 0.65.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in YRD. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Yiren Digital by 33.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 341,877 shares of the technology company’s stock worth $1,641,000 after purchasing an additional 85,414 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Yiren Digital by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,088,920 shares of the technology company’s stock worth $5,225,000 after purchasing an additional 30,641 shares during the last quarter. Trexquant Investment LP bought a new position in Yiren Digital during the 4th quarter worth approximately $138,000. Public Employees Retirement System of Ohio bought a new position in Yiren Digital during the 3rd quarter worth approximately $153,000. Finally, American Century Companies Inc. bought a new position in Yiren Digital during the 4th quarter worth approximately $107,000. 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.