Yiren Digital (NYSE:YRD) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of Yiren Digital Ltd. (NYSE:YRD) passed 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 traded.

Analyst Upgrades and Downgrades

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

Yiren Digital Stock Down 1.7 %

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

Institutional Trading of Yiren Digital

A number of hedge funds have recently made changes to their positions in YRD. XTX Topco Ltd purchased a new position in Yiren Digital in the 2nd quarter worth $70,000. Ballentine Partners LLC purchased a new position in shares of Yiren Digital in the third quarter worth about $78,000. Creative Planning bought a new stake in shares of Yiren Digital in the 3rd quarter valued at about $89,000. Public Employees Retirement System of Ohio bought a new position in Yiren Digital during the 3rd quarter worth approximately $153,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in 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 worth $1,459,000 after purchasing an additional 78,415 shares during the period. 1.99% of the stock is owned by institutional investors.

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.