FinVolution Group (NYSE:FINV) Sees Large Increase in Short Interest

FinVolution Group (NYSE:FINV) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,940,000 shares, an increase of 12.8% from the December 15th total of 1,720,000 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 645,000 shares, the short-interest ratio is presently 3.0 days.

Institutional Investors Weigh In On FinVolution Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of FinVolution Group during the third quarter valued at approximately $58,000. Quadrature Capital Ltd acquired a new position in FinVolution Group during the 3rd quarter valued at approximately $94,000. Blue Trust Inc. grew its stake in FinVolution Group by 246.8% during the 3rd quarter. Blue Trust Inc. now owns 15,754 shares of the company’s stock worth $97,000 after buying an additional 11,211 shares during the last quarter. Ascent Group LLC acquired a new stake in FinVolution Group in the third quarter worth $103,000. Finally, Dark Forest Capital Management LP bought a new stake in FinVolution Group in the second quarter valued at $139,000. Institutional investors and hedge funds own 31.15% of the company’s stock.

FinVolution Group Stock Performance

FinVolution Group stock opened at $7.04 on Monday. FinVolution Group has a 1 year low of $4.45 and a 1 year high of $7.29. The firm’s 50-day moving average is $6.67 and its 200-day moving average is $5.97. The company has a market cap of $1.87 billion, a P/E ratio of 6.06 and a beta of 0.50.

FinVolution Group Company Profile

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.