Yong Rong HK Asset Management Ltd Buys Shares of 1,980,000 Yunji Inc (NASDAQ:YJ)

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Yong Rong HK Asset Management Ltd bought a new stake in Yunji Inc (NASDAQ:YJ) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,980,000 shares of the company’s stock, valued at approximately $22,374,000. Yunji comprises approximately 32.2% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its biggest holding. Yong Rong HK Asset Management Ltd owned about 0.92% of Yunji at the end of the most recent quarter.

Separately, Picton Mahoney Asset Management bought a new position in shares of Yunji in the second quarter valued at approximately $396,000. 6.25% of the stock is owned by institutional investors.

Shares of NASDAQ:YJ traded up $0.29 on Thursday, hitting $9.55. The stock had a trading volume of 700 shares, compared to its average volume of 22,901. Yunji Inc has a twelve month low of $8.95 and a twelve month high of $18.20. The company has a 50 day moving average of $10.57.

Yunji (NASDAQ:YJ) last issued its earnings results on Tuesday, June 4th. The company reported ($0.14) EPS for the quarter. The firm had revenue of $502.79 million for the quarter. On average, equities research analysts predict that Yunji Inc will post -0.1 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on the stock. Credit Suisse Group started coverage on shares of Yunji in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $14.50 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Yunji in a research report on Thursday, June 13th. They set an “overweight” rating and a $14.00 target price on the stock. Finally, Morgan Stanley started coverage on shares of Yunji in a research report on Tuesday, May 28th. They set an “overweight” rating and a $14.70 target price on the stock.

About Yunji

Yunji Inc operates a social e-commerce platform in the People's Republic of China. It offers a range of product categories that cater various daily needs of users and their households, including beauty and personal care, household goods, food and fresh produce, computer and electronics, apparel, bags and cases, baby and maternity products, and home appliances.

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